Six-floor carpark at Textile Centre for sale at $36 mil
The carpark makes up 685 car garage also 40 motorbike lots. The overall strata location accounts for around 30% of the complete strata location of the project. By share price, this has to do with 1.02% of the whole growth. The rest of the building consists of a seven-storey store platform with 150 retail units, 6 office storeys with 63 workplace units, and 12 residential floors that place 132 units.
According to JLL, carparks are a resistant property class with secure repeating revenue and also relatively low routine service and even operating expense. The carpark is presently taken care of by Mack Parking. Strata-titled carparks hardly ever enter onto the market, without additional source in the pipe, provided restrictions on the strata neighborhood of common carparks, puts JLL.
The commercial property is alongside the Kampong Glam conservation area, that consists of restaurants, eateries, retail stores, as well as recreation locations. Some other profitable developments in the vicinity consist of City Gate, The Concourse, Parkroyal on Beach Road, and Duo.
The real estate will be offered in a private treaty sale as well as is marketed by Terry Wong and Alaric Yeo, top director and also top supervisor, respectively, of JLL’s capital markets professionals
The six-floor strata-titled carpark at Fabric Centre has recently been offered with a guide price of $36 million. According to the marketing agent, JLL, this specific deal consists of a nearby plot of commercial land which is made use of as the carpark’s driveway.
The 200,456 sq ft carpark extends the third to seventh floorings of Textile Centre, itself a 25-storey, mixed-use building at 200 Jalan Sultan in District 7. Fabric Centre positions at a popular main location within the Beach Route place, at the link of Jalan Sultan and even North Bridge Road.