Strata commercial unit at Bukit Timah Plaza for sale at $11 mil
Clemence Lee, executive director of funding markets, Singapore, at CBRE, marks that strata-commercial units within the Beauty World sub-precinct are reduced in supply. “Investors realize that supply of strata-commercial equities will certainly be limited in the future, as the authorities start to restrict additional strata subdivision of the industrial component of real estates situated in essential central areas,” he adds.
Therefore, he prepares for strong interest in the building from local as well as foreign buyers, including high-net-worth buyers, home offices and also owner-occupiers.
Future properties include a site mixed-use property 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, positioned at the junction of Upper Bukit Timah Road and Jalan Jurong Kechil, with a price of $1.03 billion ($989 psf per plot ratio) in August 2021. The property will certainly make up a retail podium, housing units, serviced flats, and also a brand-new incorporated transport hub.
The property is in Basement 2, facing the major central plaza of the retail facility. It has 20m frontage and a complete strata area of roughly 3,391 sq ft. It is currently totally rented.
In addition, Lee sights that the rejuvenation taking place in Beauty World will likely increase hire and resources appraisal for buildings in the area over the medium to long-term.
Forett at Bukit Timah Singapore
A strata business unit favorably for dining establishment 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 a guide price of $11 million.
Bukit Timah Plaza is a mixed-use project that was completed 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 makes up a four-storey retail block and 2 condominium blocks called Sherwood Towers, with 269 property units.
There is also an upcoming site under the 2H2022 GLS Program situated at Bukit Timah Link, which can produce 160 housing units.
