Strata commercial unit at Bukit Timah Plaza for sale at $11 mil
The property remains in Basement Two, facing the primary central plaza of the retail complex. It has 20m frontage and also an overall strata area of about 3,391 sq ft. It is currently totally rented.
There is likewise an upcoming site under the 2H2022 GLS Programme located at Bukit Timah Link, which can generate 160 available units.
Future projects include a site mixed-use project 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, located 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 commercial podium, residential units, serviced apartments, and a new integrated transport hub.
In addition, Lee sights that the rejuvenation occurring in Beauty World will likely boost hire and also capital appraisal for real estates in the location over the medium to long term.
Clemence Lee, executive supervisor of funding markets, Singapore, at CBRE, mentions that strata-commercial units within the Beauty World sub-precinct are restricted in supply. “Financiers understand that supply of strata-commercial equities will be limited in the future, as the authorities start to restrict further strata development of the business component of houses located in key main areas,” he includes.
Bukit Timah Plaza is a mixed-use property that was completed in 1979. It sits on an island location bounded by the Pan-Island Expressway, Jalan Anak Bukit and Upper Bukit Timah Road. The development comprises a four-storey retail block and 2 residence blocks referred to as Sherwood Towers, with 269 residential units.
Therefore, he anticipates solid interest in the building from local area and also foreign buyers, including high-net-worth buyers, household offices as well as owner-occupiers.
A strata business unit favorably for restaurant usage at Bukit Timah Plaza is up for sale using an expression of interest exercise. According to sole marketing representative CBRE, the unit has an overview price of $11 million.
