A prime opportunity has emerged for investors seeking freehold commercial properties, as two notable assets are now available for sale at a combined asking price of $75 million. These properties, situated at 453 Balestier Road and 268 River Valley Road, offer potential buyers the flexibility of acquiring them individually or as a portfolio. This strategic positioning enhances their appeal, particularly in a market where quality freehold assets are increasingly sought after.
The property located at 453 Balestier Road is an amalgamation of five two-storey conservation shophouses, boasting a gross floor area of approximately 20,089 square feet. This distinctive asset is being offered at a guide price of $50 million, which translates to approximately $2,489 per square foot. The conservation status of these shophouses adds significant value, as it preserves the historical essence of the area while providing modern development potential. Given the anticipated rental yield of over 3%, this property is expected to attract significant interest, particularly from high-net-worth individuals and family offices looking to invest in prime real estate.
On the other hand, the River Valley Road property features a four-storey serviced apartment complex that includes 12 units, complemented by a retail food and beverage unit. With a guide price of $25 million, this property translates to approximately $2,924 per square foot. The mixed-use nature of this asset is particularly appealing, as it offers both residential and commercial opportunities, catering to the diverse needs of potential tenants and buyers alike. The location , a vibrant area known for its accessibility and proximity to amenities, adds another layer of desirability.
The demand for freehold commercial properties in Singapore has been robust, driven by investors seeking stable returns in a fluctuating market. Both properties are strategically positioned to meet this demand, with their premium locations and potential for capital appreciation. The expression of interest (EOI) exercise for these properties is set to close on June 2, drawing attention from both local and foreign investors, all of whom will need to secure the necessary approvals for their bids.
As the market continues to evolve, these properties stand out as prime investment opportunities for those looking to diversify their portfolios with quality assets. The combination of historical charm at Balestier Road and the modern appeal of River Valley Road creates an attractive proposition for investors aiming to capitalize on Singapore’s thriving commercial real estate sector.
With strong interest expected, the sale of these properties could set a precedent for future transactions in the area, highlighting the enduring appeal of freehold commercial investments.
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News Source: Edgeprop
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