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A commercial unit comprising the first and second storey of GB Building at 143 Cecil Street is up for sale by expression of interest (EOI), marketing agent Edmund Tie & Company (SEA) announced Wednesday (19 October).
The property, a duplex unit linking the two floors via an internal staircase, has a total strata area of 13,067 sq ft and commands prominent street level frontage of around 45 metres along Cecil Street.
According to the agency, the property can accommodate various uses including retail, food and beverage (F&B), banking hall, medical suites and showroom — among others — subject authorities’ approval. It added that given the property’s regular layout, buyers may also consider partitioning it into smaller units for different businesses or letting out to multiple tenants.
“This offering presents a rare opportunity for end-users as well as investors who are keen to acquire a prominent commercial space in a prime CBD location,” said Edmund Tie & Company’s assistant manager for Investment Advisory, Ong Zhen Hao. “We believe that the ongoing rejuvenation of the immediate vicinity will be a huge boost to the subject property in the upcoming years and that this will be an ideal acquisition target for parties looking to ride on its potential.”
A rejuvenation exercise is underway in the property’s immediate vicinity, and a number of new commercial, residential as well as hospitality projects are currently under development. These include Frasers Tower, Tanjong Pagar Centre, Oxley Tower, and OUE Downtown.
The EOI exercise for the property will close on 30 November.
Image: Street level frontage of 143 Cecil Street (Source: Edmund Tie & Company).
Nikki De Guzman, Editor at PropertyGuru, wrote this story. To contact her about this and other stories, email nikki@propertyguru.com.sg.
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