Strata commercial unit at Bukit Timah Plaza for sale at $11 mil
There is also an upcoming site under the 2H2022 GLS Program situated at Bukit Timah Link, which can produce 160 house units.
Forthcoming projects include a spots mixed-use project by Far East Organization as well as 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 junction of Upper Bukit Timah Road as well as Jalan Jurong Kechil, with a price of $1.03 billion ($989 psf per plot ratio) in August 2021. The development will certainly consist of a business podium, property units, serviced apartments, and a brand-new incorporated transport center.
A strata industrial unit with approval for diner usage at Bukit Timah Plaza is up for sale via an expression of interest exercise. According to sole advertising agent CBRE, the unit has a guide cost of $11 million.
Bukit Timah Plaza is a mixed-use development that was finished in 1979. It remains on an island site bounded by the Pan-Island Expressway, Jalan Anak Bukit as well as Upper Bukit Timah Road. The property comprises a four-storey retail block and 2 condominium blocks known as Sherwood Towers, with 269 household units.
On top of that, Lee views that the renewal taking place in Beauty World will likely boost rental as well as funding appraisal for residences in the location over the medium to long-term.
The real estate is in Basement Two, crossing the main central plaza of the retail complex. It has 20m frontage and a complete strata location of approximately 3,391 sq ft. It is presently fully rented.
To that end, he expects solid interest in the property from local as well as international buyers, consisting of high-net-worth buyers, home offices and owner-occupiers.
Clemence Lee, executive supervisor of resources markets, Singapore, at CBRE, notes that strata-commercial units within the Beauty World sub-precinct are restricted in supply. “Financiers are aware that supply of strata-commercial assets will certainly be restricted in the future, as the authorities begin to limit more strata community of the commercial element of houses situated in crucial main areas,” he includes.