Strata commercial unit at Bukit Timah Plaza for sale at $11 mil

A strata business unit with approval for diner usage at Bukit Timah Plaza is up for sale by means of an expression of interest exercise. According to single marketing representative CBRE, the unit has an overview price of $11 million.

Therefore, he expects strong attraction in the property from local area as well as international buyers, involving high-net-worth individuals, family offices as well as owner-occupiers.

The Watergardens Singapore

Clemence Lee, executive director of capital markets, Singapore, at CBRE, marks that strata-commercial units within the Beauty World sub-precinct are restricted in supply. “Capitalists know that supply of strata-commercial equities will certainly be restricted in the future, as the authorities start to limit additional strata subdivision of the industrial component of houses situated in essential central locations,” he adds.

Bukit Timah Plaza is a mixed-use development that was completed in 1979. It sits on an island site bounded by the Pan-Island Expressway, Jalan Anak Bukit and Upper Bukit Timah Road. The development makes up a four-storey retail block as well as two condominium blocks called Sherwood Towers, with 269 household units.

In addition, Lee views that the restoration occurring in Beauty World will likely boost rental as well as capital appreciation for real estates in the area over the medium to long-term.

The property remains in Basement Two, crossing the primary central plaza of the retail facility. It has 20m frontage as well as a complete strata area of around 3,391 sq ft. It is presently fully leased.

There is additionally an upcoming site under the 2H2022 GLS Program located at Bukit Timah Link, which can produce 160 available units.

Future properties consist of a site mixed-use property by Far East Organization and also Sino Group at the Jalan Anak Bukit Government Land Sales (GLS) site. The joint-venture partners won the 3.22 ha site, based at the joint of Upper Bukit Timah Road and Jalan Jurong Kechil, with a quote of $1.03 billion ($989 psf per plot ratio) in August 2021. The property will make up a retail podium, housing units, serviced apartments, and a new integrated transportation hub.

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