Freehold mixed-use building in Newton up for sale at $20 mil

Michael Tay, director of resources markets in Singapore at CBRE, believes that the building will certainly appreciate long term funding and rentals advantages, set up by the continuous rejuvenation of the Orchard Road and Novena places. He anticipates good investor attention in the property, in addition to curiosity from owner-occupiers seeking a building perfect for calling and signage rights.

A five-storey estate building situated at 200 Bukit Timah Street in District 9’s Newton precinct is up for sale with an expression of interest (EOI) exercise. The overview value for the building is approximately $20 million, which works out to $2,295 psf on the total gross floor area (GFA), according to advertising agent CBRE.

Forett at Bukit Timah showflat

The whole home is currently leased to a veterinary centre with team quarters, indicating it can provide an effective client with instant rental income. 200 Bukit Timah is a short walk away from the Newton MRT Interchange Station on the North-South and also Downtown Lines. It is also bordered by amenities like the Novena Square, Square 2 and United Square mall, Newton Food Centre and healthcare facility Health City Novena.

He incorporates that the successful buyer can check out a number of value-add angles to shift the asset, based on approvals from the appropriate authorities. This consists of making use of the property for F&B facilities, display room, health club, industrial school or co-living applications, amongst others.
The EOI exercise for 200 Bukit Timah is going to close on July 27 at 3pm.

The home is a mixed business and also residential structure that rests on a land area of around 2,083 sq ft, with a total GFA of 8,715 sq ft. It is equipped with elevator accessibility throughout all five floors and has a special parking lot with five parking lots. (Look for Singapore commercial residential properties with our business directory).