Exclusive Freehold Retail Units in Bukit Timah Listed
In an exciting development for investors, three prime freehold commercial properties are up for sale in the prestigious Bukit Timah area, listed at a total of $18.5 million. These sought-after ground floor retail units are situated on Greenwood Avenue, right behind prominent educational institutions such as National Junior College and Raffles Girls Primary School.
The combined gross floor area of these retail units spans 4,456 square feet, with the pricing set at approximately $4,150 per square foot. This competitive valuation is notably lower than several recent transactions in the vicinity, which could entice both local and foreign buyers seeking to capitalize on this unique opportunity.
Key Property Details
The individual properties up for sale include:
- 20 Greenwood Avenue: 1,539 sq ft priced at S$6.5 million ($4,224 psf)
- 26 Greenwood Avenue: 1,442 sq ft priced at S$6 million ($4,161 psf)
- 28 Greenwood Avenue: 1,475 sq ft priced at S$6 million ($4,068 psf)
The listing process is being managed by CBRE through an Expression of Interest (EOI) exercise that allows potential purchasers to acquire the units either individually or collectively. Notably attractive are the conditions that no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) applies to these sales.
Location Advantages
This area provides exceptional connectivity, with close proximity to Tan Kah Kee MRT station along the Downtown Line and easy access via major roads including Dunearn Road and Bukit Timah Road. The location is further enhanced by its adjacency to the Pan-Island Expressway (PIE) and Central Expressway (CTE).
The existing commercial landscape along Greenwood Avenue features a diverse array of tenants and lifestyle options such as Baker & Cook and Cold Storage. This variety enhances the appeal of the retail units to potential investors looking to tap into established consumer bases within this affluent community.
Market Dynamics
Clemence Lee from CBRE emphasizes the rarity of freehold commercial space in this neighborhood. The enduring demand is driven by limited supply coupled with an increasing population in Bukit Timah—a residential area that currently houses about 86,000 residents and boasts numerous esteemed educational facilities.
With upcoming developments like Bukit Timah Turf City poised to introduce thousands of new homes over the next few years—both public and private—investors can look forward to increased footfall that will benefit retail offerings significantly.
Investment Potential
This portfolio represents a compelling proposition for buyers interested in long-term capital appreciation. The average price per square foot stands favorably against other recent sales; specifically, it reflects discounts ranging from 10% to 18% compared with similar properties sold recently on Greenwood Avenue.
As more residents move into this expanding neighborhood due to new public housing developments—the first in nearly four decades—demand for retail spaces is expected to rise concurrently. This combination positions the retail offerings on Greenwood Avenue as potentially lucrative investments.
Conclusion
The anticipated interest from high-net-worth individuals as well as boutique operators highlights how attractive these freehold units could be within such a desirable enclave. As opportunities like these emerge less frequently within Singapore’s commercial real estate market, prospective buyers are encouraged to assess their options promptly.
Explore our consultation services here. For those curious about specific implications regarding property decisions amid current market shifts or general inquiries regarding real estate trends in Singapore’s distinctive neighborhoods like Bukit Timah, feel free to reach out through our contact page.
Source: Original Article
In an exciting development for investors, three prime freehold commercial properties are up for sale in the prestigious Bukit Timah area, listed at a total of $18.5 million. These sought-after ground floor retail units are situated on Greenwood Avenue, right behind prominent educational institutions such as National Junior College and Raffles Girls Primary School.
The combined gross floor area of these retail units spans 4,456 square feet, with the pricing set at approximately $4,150 per square foot. This competitive valuation is notably lower than several recent transactions in the vicinity, which could entice both local and foreign buyers seeking to capitalize on this unique opportunity.
Key Property Details
The individual properties up for sale include:
- 20 Greenwood Avenue: 1,539 sq ft priced at S$6.5 million ($4,224 psf)
- 26 Greenwood Avenue: 1,442 sq ft priced at S$6 million ($4,161 psf)
- 28 Greenwood Avenue: 1,475 sq ft priced at S$6 million ($4,068 psf)
The listing process is being managed by CBRE through an Expression of Interest (EOI) exercise that allows potential purchasers to acquire the units either individually or collectively. Notably attractive are the conditions that no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) applies to these sales.
Location Advantages
This area provides exceptional connectivity, with close proximity to Tan Kah Kee MRT station along the Downtown Line and easy access via major roads including Dunearn Road and Bukit Timah Road. The location is further enhanced by its adjacency to the Pan-Island Expressway (PIE) and Central Expressway (CTE).
The existing commercial landscape along Greenwood Avenue features a diverse array of tenants and lifestyle options such as Baker & Cook and Cold Storage. This variety enhances the appeal of the retail units to potential investors looking to tap into established consumer bases within this affluent community.
Market Dynamics
Clemence Lee from CBRE emphasizes the rarity of freehold commercial space in this neighborhood. The enduring demand is driven by limited supply coupled with an increasing population in Bukit Timah—a residential area that currently houses about 86,000 residents and boasts numerous esteemed educational facilities.
With upcoming developments like Bukit Timah Turf City poised to introduce thousands of new homes over the next few years—both public and private—investors can look forward to increased footfall that will benefit retail offerings significantly.
Investment Potential
This portfolio represents a compelling proposition for buyers interested in long-term capital appreciation. The average price per square foot stands favorably against other recent sales; specifically, it reflects discounts ranging from 10% to 18% compared with similar properties sold recently on Greenwood Avenue.
As more residents move into this expanding neighborhood due to new public housing developments—the first in nearly four decades—demand for retail spaces is expected to rise concurrently. This combination positions the retail offerings on Greenwood Avenue as potentially lucrative investments.
Conclusion
The anticipated interest from high-net-worth individuals as well as boutique operators highlights how attractive these freehold units could be within such a desirable enclave. As opportunities like these emerge less frequently within Singapore’s commercial real estate market, prospective buyers are encouraged to assess their options promptly.
Explore our consultation services here. For those curious about specific implications regarding property decisions amid current market shifts or general inquiries regarding real estate trends in Singapore’s distinctive neighborhoods like Bukit Timah, feel free to reach out through our contact page.
Source: Original Article