Strata commercial unit at Bukit Timah Plaza for sale at $11 mil
Bukit Timah Plaza is a mixed-use property that was finished 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 property comprises a four-storey retail block as well as 2 residence blocks known as Sherwood Towers, with 269 household units.
The real estate is in Basement 2, crossing the primary central plaza of the retail facility. It has 20m frontage and also a complete strata area of approximately 3,391 sq ft. It is currently fully leased.
Approaching properties 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 Jalan Jurong Kechil, with a quote of $1.03 billion ($989 psf per plot ratio) in August 2021. The property will certainly comprise a business podium, housing units, serviced flats, and also a brand-new incorporated transport hub.
There is also an upcoming site under the 2H2022 GLS Programme situated at Bukit Timah Link, which can generate 160 household units.
Therefore, he prepares for solid attraction in the property from local as well as foreign buyers, consisting of high-net-worth individuals, household offices as well as owner-occupiers.
Furthermore, Lee sees that the rejuvenation taking place in Beauty World will likely boost rental and also resources appreciation for real estates in the area over the medium to long-term.
A strata industrial unit with approval for diner use at Bukit Timah Plaza is up for sale using an expression of interest exercise. According to single marketing representative CBRE, the unit has an overview price of $11 million.
Clemence Lee, executive supervisor of capital markets, Singapore, at CBRE, marks that strata-commercial units within the Beauty World sub-precinct are limited in supply. “Capitalists understand that supply of strata-commercial properties will be restricted in the future, as the authorities start to limit more strata community of the business part of real estates located in vital central areas,” he includes.