Ground-floor unit in Bukit Timah Shopping Centre going for $5.8 mil
By Timothy Tay
/ EdgeProp |
A ground-floor commercial unit in Bukit Timah Shopping Centre is up for sale. The unit has a 999-year tenure and comes with an indicative guide price of $5.8 million ($2,707 psf on the strata area), says marketing agent CBRE.
The unit features a prominent frontage along Upper Bukit Timah Road and has a floor area of 2,142 sq ft. The property, which is currently tenanted, enjoys high footfall and is beside a public carpark. It is currently tenanted. Bukit Timah Shopping Centre comprises a seven-storey podium and a 14-storey tower block.
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The unit has a 999-year tenure and comes with an indicative guide price of $5.8 million, or $2,707 psf on the strata area (Picture: CBRE)
This property will appeal to investors looking to purchase a unit that provides immediate and stable rental income, or for an owner-occupier seeking a space for their own use, says Sophia Lim, manager of capital markets at CBRE. “This is a rare opportunity for investors and end-users to own a 999-year ground floor unit with ‘bar/pub’ approval that is within a shopping mall in the mature Bukit Timah estate, and at an attractive price,” she adds.
There have been few transactions within the development over the last three years, and only one 193 sq ft retail unit on the ground floor was sold for $3,432 psf in 2017. “Units on the ground floor in the mall are usually tightly held and are seldom made available for sale,” says Lim.
The expression of interest exercise closes on Aug 6.
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