HDB commercial strata unit in Bedok North going for $24 mil
A commercial strata unit at 215 Bedok North Road 1 goes on the market place for $24 million, with CBRE as the restricted advertising and marketing representative. The unit, on the 2nd floor of a two-storey business establishment, has a strata area of 16,178 sq ft and the suggestive guide cost works out to $1,483 psf on the strata location. Companies and noncitizens can purchase the subject real property without extra purchaser’s or seller’s stamp obligation required on the transaction.
Tay also says the unit available for sale provides “an opportunity for entrepreneurs looking for safety purchases with accretive return potential”. Located in an older HDB hub undertaking fast rejuvenation, it stands to gain from the development of new HDB flats and nonpublic condominiums such as Sky Eden @ Bedok, positioned at Bedok Central, within just a three-minute walking of the Bedok incorporated transportation centre and amenities.
“These kinds of market HDB assets with huge ground plates in older areas are scarce and have good subleasing interest from various renter accounts, including institutions, agencies and offices,” claims Michael Tay, head of capital markets, Singapore, at CBRE. He includes the unit is currently subleased to Singapore Pools Betting Centre, featuring an appealing financial investment chance with an established tenant.
The location attracts young, wealthy residents, helping the asset by locating it for adaptable mid- to lengthy leasing. Footfall is also maintained by close-by business hubs like Changi Business Park and ESR Biz Park @ Chai Chee.
The HDB unit is going to be sold through an expression of interest exercise that finalizes on July 10.
Found in the Bedok Town Centre precinct, the unit is around various neighbourhood amenities, providing Bedok Market and Hawker Centre, Bedok Public Library and Kampong Chai Chee Town Centre. It is also near to the Bedok Integrated Transportation Center, that includes Bedok Mall on New Upper Changi Roadway, an air-conditioned bus interchange and a connection to the Bedok MRT Terminal on the East-West Line.
