Strata commercial unit at Bukit Timah Plaza for sale at $11 mil
Forthcoming properties include a landmark mixed-use property by Far East Organization and also Sino Group at the Jalan Anak Bukit Government Land Sales (GLS) site. The joint-venture associates won the 3.22 ha site, situated at the junction of Upper Bukit Timah Road as well as Jalan Jurong Kechil, with a bid of $1.03 billion ($989 psf per plot ratio) in August 2021. The project will certainly comprise a business podium, property units, serviced condominiums, and also a brand-new incorporated transportation center.
The real estate is in Basement Two, crossing the primary central plaza of the retail facility. It has 20m frontage and also a total strata location of roughly 3,391 sq ft. It is presently totally rented.
A strata commercial unit with approval for diner usage at Bukit Timah Plaza is up for sale using an expression of interest exercise. According to sole marketing agent CBRE, the unit has an overview rate of $11 million.
There is additionally an upcoming site under the 2H2022 GLS Programme situated at Bukit Timah Link, which can generate 160 property units.
Bukit Timah Plaza is a mixed-use property that was finished in 1979. It rests on an island site bounded by the Pan-Island Expressway, Jalan Anak Bukit and also Upper Bukit Timah Road. The project consists of a four-storey retail block and two condominium blocks known as Sherwood Towers, with 269 property units.
Therefore, he anticipates strong attraction in the property from local and also overseas buyers, involving high-net-worth individuals, household workplaces and owner-occupiers.
Furthermore, Lee sees that the renewal happening in Beauty World will likely enhance rental as well as funding appraisal for real estates in the location over the medium to long term.
Clemence Lee, executive supervisor of resources markets, Singapore, at CBRE, mentions that strata-commercial units within the Beauty World sub-precinct are limited in supply. “Financiers realize that supply of strata-commercial assets will certainly be limited in the future, as the authorities begin to restrict further strata community of the commercial element of houses found in vital central areas,” he adds.
