Strata commercial space in Jalan Besar for sale at $22 mil
/ EdgeProp Singapore |
The space up for sale measures 4,876 sq ft and is located on the ground and second floors of the building (Picture: Knight Frank)
SINGAPORE (EDGEPROP) - A strata commercial space at a four-storey building located at 260 Jalan Besar is up for sale at an indicative price of $22 million. The space measures 4,876 sq ft, which equals $4,511 psf. It comprises the ground and second floors of the building.
Jac Teo, associate senior division director at Knight Frank Property Network, says the owner is currently using the ground floor space as a showroom for their office equipment business, while the second floor houses office space and a meeting room. Teo, along with Knight Frank Property Network associate deputy division director Chin Mei Fong are the exclusive marketing agents and are gathering expressions of interest for the property, targeted to close by early January 2023.
Map and overview of 260 Jalan Besar (Source: EdgeProp LandLens)
The building at 260 Jalan Besar sits on a land area of 5,478 sq ft, with a total build-up area of around 17,243 sq ft. Teo adds that the third and fourth floors, which different owners hold, are currently being used as residential units. The location of the property at the intersection of Jalan Besar and Plumer Road gives the ground floor space a wide, 30m frontage.
He adds that the ground floor space has received in-principle approval for F&B usage. The space on the second floor, which measures 1,819 sq ft, is connected to the ground floor unit via an internal staircase. “There is a good chance that the operator could apply to use the level 2 area as private dining rooms.”
Teo says the future owner could also use the property for commercial purposes, such as a showroom, or as retail or office premises. He anticipates the property to see keen interest from different buyers, including family offices seeking an investment property that can provide stable rental yields or F&B operators looking for a property with a prominent frontage. (Find Singapore commercial properties with our commercial directory)
The property is within walking distance of the Farrer Park MRT Station on the North-East Line and Bendemeer MRT Station on the Downtown Line.
Recent sales transactions of commercial property along Jalan Besar (Source: EdgeProp Research)
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