Freehold properties in Balestier and East Coast for sale

Two freehold properties have been put up for sale by public tender. The first is a single-storey property at East Coast Road which has a guide price of $20 million (or $8,726 psf on the floor area), and the other is a four-storey, mixed-use building at Balestier Road, which has a guide price of $26.8 million ($1,568 psf on the floor area).

The transaction can be a bundle or single-asset purchase. Both properties are solely marketed by CBRE.

The single-storey property, located at the junction of East Coast Road and Joo Chiat Road, is directly opposite 112 Katong mall. Sitting on a 2,872 sq ft site, the property at 124/126 East Coast Road has an existing built-up area of 2,292 sq ft and has obtained approval for F&B use. It enjoys dual road frontages of about 40 metres. The site is zoned for commercial use under the 2019 Draft Master Plan, and the site has a plot ratio of 3.0. This means the successful buyer has the option to expand the property to a maximum allowable gross floor area of about 8,616 sq ft.

“With government initiatives to inject vibrancy into the area and enhanced connectivity with the upcoming Thomson-East Coast MRT line, we have observed strong buyers’ interest in commercial properties located in the East, particularly those that hold potential for value-add and plot ratio intensification,” says Yap Hui Yee, associate director of capital markets at CBRE.

The mixed-use development sits at the junction of Balestier Road and Kim Keat Road. The four-storey building, at 320 Balestier Road, enjoys dual frontages of about 40 metres. It sits on a 4,377 sq ft plot, and has a built-up area of about 17,093 sq ft. The top two levels are private residences, the second level is a student hostel, and the ground floor houses a lighting shop. The ground-floor unit has been granted approval for F&B use.