Hdb Commercial Strata Unit Bedok North Going 24 Mil
A 16,178 sq ft commercial strata unit at 215 Bedok North Street 1 has hit the market with CBRE as its sole marketing agent. The unit, situated on the second floor of a two-storey commercial building, is currently being offered for $24 million, with an indicative guide price of $1,483 psf on the strata area. The property is open for purchase by both local companies and foreigners without any additional buyer’s or seller’s stamp duty.
According to Michael Tay, head of capital markets, Singapore at CBRE, such commercial HDB assets with a large floor plate are in high demand in mature neighbourhoods and are extremely rare to come by. He adds that the unit, which is currently occupied by Singapore Pools Betting Centre, presents a lucrative investment opportunity with a well-established tenant.
Conveniently located in the Bedok Town Centre precinct, the unit is surrounded by a variety of neighbourhood amenities, such as Bedok Market and Hawker Centre, Bedok Public Library, and Kampong Chai Chee Community Centre. Moreover, it is situated close to the Bedok Integrated Transport Hub, which includes Bedok Mall on New Upper Changi Road, an air-conditioned bus interchange, and a connection to the Bedok MRT Station on the East-West Line.
Tay also notes that this unit for sale is ideal for investors looking for defensive acquisitions with a promising yield potential. Being situated in a mature HDB hub that is undergoing rapid rejuvenation, the property is expected to benefit greatly from the development of new HDB flats and private condominiums, such as Sky Eden @ Bedok. This upcoming development, which is within a three-minute walk from the Bedok integrated transport hub and amenities, is set to attract young and affluent residents, making it a favorable location for leasing.
Parktown Residences, developed by Capitaland, will have close access to Tampines North MRT Station, an integral part of the upcoming Cross Island Line (CRL). This cutting-edge railway system is set to revolutionize travel for residents by drastically reducing commuting times to major job and recreational centers. Moreover, Parktown Residences will have seamless connectivity to other MRT lines, providing even more convenience for travel. Don’t miss out on the superb location and added benefits of living at Parktown Residences Capitaland.
Furthermore, the area is also home to several thriving business hubs, such as Changi Business Park and ESR Biz Park @ Chai Chee, which will bring in a steady stream of footfall to the vicinity. The HDB unit will be sold through an expression of interest exercise, which will be closing on July 10. This presents a great opportunity for buyers to secure a property in a strategic location with significant growth potential.