Overview of the Property
A strata commercial unit favorably for restaurant usage at Bukit Timah Plaza is up for sale through an expression of interest exercise. Located in a four-storey retail block and two condominium blocks known as Sherwood Towers, the property has an overview price of $11 million. Additionally, it is situated on an island site bordered by the Pan-Island Expressway, Jalan Anak Bukit, and Cape Royale by Ho Bee Land. Furthermore, the ongoing restoration taking place in Beauty World is expected to increase rental and capital appreciation of properties in the area. With all these factors in mind, it is no surprise that this property offers great potential for investors and business owners alike.
Guide Price of the Unit
The guide price of the unit, according to sole marketing agent CBRE, is $11 million. This price is expected to attract potential buyers as the unit offers a unique opportunity to acquire a commercial strata unit with approval for restaurant usage at Bukit Timah Plaza. The property, located in Basement Two, has a 20m frontage and total strata area of approximately 11,545 sq ft. With an upcoming site under 2H2022, this is an ideal time to invest in this commercial property and take advantage of the potential benefits.
Expected Attraction
The strata commercial unit at Bukit Timah Plaza is expected to attract considerable interest from buyers due to its favorable location and approval for restaurant usage. The joint-venture partners recently won the 3.22 ha site, with an offer of $1.03 billion, and a landmark mixed-use development by Far East is also set to be built in the vicinity. With the guide price of the unit set at $11 million, it is likely to draw considerable attention from potential buyers.
Conclusion
The strata commercial unit at Bukit Timah Plaza is a great investment opportunity for those looking for a long-term investment. With its approval for restaurant usage and its guide price of $11 mil, it makes for an attractive proposition. Furthermore, with the recent high demand for freehold residential units in Singapore, it’s likely that this property will only become more attractive in the future. With its breakeven estimated to be around $1,300 psf and construction cost at around $350 psf, this property is an exciting venture that could potentially yield good returns.