Knight Frank Singapore is pleased to announce the launch of a freehold 4-storey commercial building with attic, along Joo Chiat Road for sale by Expression of Interest (“EOI”).
The property has a site area of 4,686 sq ft and gross floor area of 18,571 sq ft, and comes with a lift and fully automated mechanical car park for 9 cars. Under the 2014 Master Plan, the property is zoned “Commercial” with a permissible gross plot ratio of 3.0. The property is currently close to 90% let to several tenants.
Ian Loh, Executive Director and Head of Investment & Capital Markets, Knight Frank Singapore, comments, “The property is prominently located within a cluster of 2- and 3-storey shophouses, and it’s rare to find a commercial property with its own car parking provision. The indicative guide price is between S$12.5 to S$14 million, which works out to approximately $673psfppr to $754psfppr. We believe that there will be strong interest for the property from both strategic investors as well as owner-operators, to acquire an asset with potential for capital appreciation from future macro developments.
“Investors can look forward to re-positioning the existing tenant mix while owner-occupiers can explore the opportunity to building naming and signage rights. The property is also ideal for operations that require generous car parking space.”
The Tender closes at 3pm on Tuesday, 22 November 2016.
For further information, please contact:
Mr Ian Loh, Executive Director, Head of Investment & Capital Markets, Knight Frank Singapore
(E) firstname.lastname@example.org (D) +65 6228 6823 (M) +65 8838 3288
Ms Phyllis Goh, Senior Executive, Marketing & Communications, Knight Frank Singapore
(E) email@example.com (D) +65 6228 7379