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Located within the affluent Bukit Timah neighbourhood, Bukit Timah Shopping Centre is a commercial development comprising a 14-storey tower and a seven-storey podium.
A 999-year ground-floor unit at Bukit Timah Shopping Centre has been put up for sale via expression of interest (EOI), carrying a guide price of $5.8 million, revealed marketing agent CBRE.
The price works out to around $2,707 per sq ft based on the property’s strata area.
Located within the affluent Bukit Timah neighbourhood, Bukit Timah Shopping Centre is a commercial development comprising a 14-storey tower and a seven-storey podium.
The 2,142 sq ft ground-floor unit enjoys a main road frontage along the Upper Bukit Timah Road and is strategically situated next to a public car parking facility. It is currently tenanted and has rare approval to operate as a ‘Bar/Pub’.
CBRE noted that potential alternative uses – including healthcare, cafes, showroom, educational, fitness centre, retail, home & living and lifestyle business – may be explored, subject to the relevant authorities’ approval.
“Units on the ground floor in the mall are usually tightly held and are seldom made available for sale due to their high visibility and the heavy human traffic flow,” said CBRE capital markets manager Sophia Lim.
“This is evident from the limited number of transactions within the development over the last three years – only one 193-sq-ft retail unit on the ground floor was transacted at $3,432 per sq ft in 2017.”
She added that both foreigners and companies can acquire the property, with no Additional Buyers’ Stamp Duty or Sellers’ Stamp Duty payable.
The EOI exercise for the ground-floor unit closes on 6 August.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg
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