Three strata assets on the market for $16.9 mil
The property at International Plaza comprises four adjoining shop units (Photo: Knight Frank Singapore)
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Three strata properties located at Premier@Kaki Bukit, 150 Bishan Street 11 and adjoining shop units at International Plaza is up for sale through an expression of interest (EOI) exercise with a guide price of $16.9 million. The properties are held under separate ownership and can be acquired on an individual basis, according to exclusive marketing agent Knight Frank Singapore.
The assets comprise a mix of the property types in the central and eastern areas of Singapore. The property at Premier@Kaki Bukit, an eight-storey ramp-up industrial building, is an industrial canteen. The property spans a strata area of approximately 12,303 sq ft, which is currently leased to a single operator. It features nine food stalls and a drink stall, all with high ceilings and ample seating areas.
Premier@Kaki Bukit is an eight-storey ramp-up industrial building (Photo: Knight Frank Singapore)
Knight Frank Singapore adds that the property “attracts consistent patronage from the working crowd in the vicinity, and is well-positioned to benefit from upcoming rejuvenation in the area”.
The property is zoned for B2 industrial use, and has a guide price of $10.5 million, translating to $853 psf.
Meanwhile, the strata asset at 150 Bishan Street 11 is a two-storey HDB shophouse. The ground floor, zoned for commercial use, is currently leased to a minimart operator, while the upper residential floor remains vacant.
According to the agency, the property currently enjoys strong footfall due to the area’s residential catchment, which is set to increase with the recent completion of the 472-unit Build-To-Order (BTO) development Bishan Towers. The property is priced at $3.4 million, translating to $2,164 psf on its strata area of 1,571 sq ft.
The ground floor of the property at 150 Bishan Street 11 is currently leased to a minimart operator (Photo: Knight Frank Singapore)
The third property, located at International Plaza in District 2, comprises four adjoining ground-floor shop units spanning a total strata area of approximately 1,066 sq ft. The units are located on the second floor of the mixed-use development and boast a wide frontage. It has a guide price of $3 million, or $2,814 psf.
Tania Ong, senior manager of capital markets at Knight Frank Singapore, notes increased activity in the strata-titled market, driven by growing investor confidence amid the current interest rate environment.
“Demand has been consistent among end-users and investors seeking bite-sized assets in prime locations offering resilient yield performance,” she adds. “Collectively, the three properties exemplify the depth and diversity of Singapore’s strata market.”
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