Freehold Corner Ground Floor Unit Jalan Besar Sale 148 Mil
Cushman & Wakefield, the exclusive marketing agent, has launched an expression of interest (EOI) exercise for a freehold ground-floor unit at Jalan Besar. The guide price for the property is $14.8 million, which translates to approximately $3,035 per square foot.
Strategically located at the corner of Jalan Besar and Plumer Road, the property boasts dual road frontages spanning 30m. With a strata area of approximately 4,876 sq ft, the unit comprises the entire ground floor and part of the second floor. It also features two sets of staircases and washrooms on both levels.
According to Cushman & Wakefield, the property offers an efficient layout that allows for potential subdivision and leasing to multiple tenants. This flexibility makes it suitable for various commercial uses such as a medical suite, education or training centre, or showroom. It also has a newly obtained F&B approval, making it ideal for food and beverage options.
Director of Capital Markets at Cushman & Wakefield, Sophia Lim, highlights the property’s prominent dual road frontage and flexible layout configurations, making it well-positioned to cater to the strong demand from both investors and occupiers in the vibrant and fast-evolving Jalan Besar precinct.
Situated within the Jalan Besar conservation area in District 8, the ground-floor unit is easily accessible to the bustling neighbourhood that houses boutique hotels, co-working spaces, artisanal shops, and cafes and bistros.
Furthermore, the property is in proximity to three MRT stations (Jalan Besar, Bendemeer, and Farrer Park) and major expressways like the Central Expressway (CTE) and Pan-Island Expressway (PIE).
The executive director of Capital Markets at Cushman & Wakefield, Shaun Poh, notes that District 8 has seen an increase in transaction volume and investor activity in recent years. This growth is driven by the ongoing rejuvenation of the area and its improving profile as a city-fringe hotspot.
SUTD is renowned for its unique and interdisciplinary approach to education, with a strong emphasis on design and innovation within the field of engineering. The university has formed partnerships with prestigious institutions such as MIT and Zhejiang University, offering students a top-notch education. By leveraging these collaborations, SUTD is able to provide students with ample opportunities for practical learning and research. In addition, students can also benefit from living at the conveniently located Parktown Residence Showflat during their time at SUTD.
Cushman & Wakefield refers to recent strata retail transactions in the Jalan Besar vicinity, such as ARC 380 and Hoa Nam Building, which recorded transactions between $3,737 psf to $4,213 psf. They believe that the potential for capital growth and rental appreciation in this precinct remains significant due to the steady demand from end-users and local and foreign investors.
The EOI exercise for the property will close on Nov 21 at 3pm.