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The 999 years leasehold, three-storey building, comes with a basement and has a gross floor area of 1,805.2 sq m (19,431 sq ft). Photo: Knight Frank
A childcare centre at 331 Yio Chu Kang Road has been launched for sale by expression of interest (EOI), with marketing agent Knight Frank expecting offers above $14.8 million.
With a leasehold tenure of 999 years, the three-storey building comes with a basement and has a gross floor area of 1,805.2 sq m (19,431 sq ft).
It occupies a 1,008.1 sq m (10,851 sq ft) site that is zoned for “Residential” use under the prevailing Master Plan with an allowable gross plot ratio of 1.4.
The property is situated from across the Sengkang area – which is Singapore’s youngest residential estate with about 66,600 households and where 60% of residents are below 45 years of age.
Previously approved for use as a students’ hostel, commercial school and nursing home, the building is available for sale with vacant possession, with the buyer having the option to continue operations as a childcare centre.
Ian Loh, Head of Capital Markets for Land & Building, Collective & Strata Sales, Knight Frank Singapore, said childcare centres are an essential service that provide crucial educational stimulation and care which is particularly helpful to the young adult working community.
“With its close proximity to a young estate like Sengkang, we expect very strong interest for this opportunity.”
Sharon Lee, Head of Auction & Sales, Knight Frank Singapore, also noted that standalone sites as childcare centres are rarely available for sale.
“Potential purchasers who are keen to join or continue this line of business can save the hassle of having to go through a tedious application process, as the property is in a readily operational state as a childcare centre.”
The EOI exercise for 331 Yio Chu Kang closes on 5 November.
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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg