Strata commercial unit at Bukit Timah Plaza for sale at $11 mil
The building is in Basement 2, facing the main central plaza of the retail facility. It has 20m frontage and also an overall strata location of around 3,391 sq ft. It is currently fully rented.
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 understand that supply of strata-commercial residences will be limited in the future, as the authorities start to restrict more strata community of the business component of houses located in essential main locations,” he adds.
There is likewise an upcoming site under the 2H2022 GLS Program located at Bukit Timah Link, which can produce 160 housing units.
Furthermore, Lee sees that the restoration taking place in Beauty World will likely improve hire as well as funding appreciation for properties in the area over the medium to long-term.
Upcoming properties include a landmark mixed-use development 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 and also Jalan Jurong Kechil, with a quote of $1.03 billion ($989 psf per plot ratio) in August 2021. The development will comprise a retail podium, residential units, serviced condominiums, and a new incorporated transport center.
Bukit Timah Plaza is a mixed-use project that was completed in 1979. It sits on an island location bounded by the Pan-Island Expressway, Jalan Anak Bukit as well as Upper Bukit Timah Road. The development consists of a four-storey retail block and two flat blocks called Sherwood Towers, with 269 property units.
A strata business unit favorably for dining establishment usage at Bukit Timah Plaza is up for sale via an expression of interest exercise. According to sole promotion agent CBRE, the unit has an overview rate of $11 million.
Therefore, he prepares for solid interest in the real estate from local area and international buyers, consisting of high-net-worth individuals, home workplaces and owner-occupiers.