Bookmark & Share
A four-storey commercial building with attic along Joo Chiat Road is up for sale by expression of interest (EOI) with an indicative price of between S$12.5 million to S$14 million.
The freehold property, located at 118 Joo Chiat Road, has a site area of 4,686 sq ft and gross floor area of 18,571 sq ft. Zoned for commercial use under the 2014 Master Plan, the property comes with a permissible gross plot ratio of 3.0. This translates the guide price to approximately $673 per sq ft per plot ratio to $754 per sq ft per plot ratio.
According to Knight Frank, the marketing agent of the commercial building, it expects the property to receive strong interest given its potential for capital appreciation.
“Investors can look forward to repositioning 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,” said Ian Loh, executive director and head of Investment & Capital Markets, Knight Frank Singapore.
The property, which is 90 percent tenanted, is equipped with a lift and a fully-automated mechanical car park for nine cars.
The tender exercise for the property will close on 22 November.
Image: Commercial building at 118 Joo Chiat Road. (Source: Knight Frank)
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg
Related Articles:
Joo Chiat Road shophouses up for sale
Industrial land, properties under HDB to be transferred to JTC