Commercial building in Joo Chiat for sale at $34 mil

By
/ EdgeProp Singapore
|
March 11, 2020 5:17 PM SGT
JK Centre (Credit: JLL)
SINGAPORE (EDGEPROP) - A freehold, corner, commercial building at Joo Chiat Road and Koon Seng Road is up for sale at a guide price of $34 million, or $1,627 psf on gross floor area (GFA), according to JLL, which is marketing the property.
JK Centre is a part two-storey, part five-storey building on a 8,491 sq ft site. The building houses a supermarket on the ground floor, retail units on the second level and office units on levels three to five, with an overall estimated GFA of 20,895 sq ft.
Located within the Joo Chiat Conservation Area, the property for sale is zoned for commercial use under URA’s Master Plan 2019.
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“Given its highly coveted freehold tenure and prominent corner location with double frontages, JK Centre presents investors with a rare opportunity to own a flagship building with excellent visibility and naming rights,” says Tan Hong Boon, executive director of capital markets, JLL.
The tender for the property will close on April 15 at 3pm.
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