A five-storey freehold building situated at 200 Bukit Timah Road in District 9’s Newton precinct is up for sale with an expression of rate of interest (EOI) exercise. The overview cost for the residential or commercial property is around $20 million, which exercises to $2,295 psf on the overall gross flooring area (GFA), according to advertising and marketing agent CBRE.

Residents of the Reserve Residences Will Be Close to Several Amenities and Entertainment Areas

Residents of The Reserve Residences will be close to several amenities and entertainment areas. Nearby nature parks include the Bukit Timah Nature Reserve, the Central Water Catchment Area, and the Upper Pierce Reservoir. There are also several shops and restaurants within walking distance. For those who are working or studying, the Reserve Residences location is convenient for daily needs. This development is also near the BTU and beauty world MRT stations.

The Reserve Residences will be located near the former Goh & Goh Building. It will be 36 stories high and feature commercial spaces on the lower floors and residential units on the top floors. There will also be a pedestrian network connecting the two areas. Other features of the development will include an indoor sports hall, offices, and retail spaces. This development is expected to be the perfect home for new residents, investors, and business owners alike.

The Reserve Residences will feature residential and commercial space integrated into a revitalization plan. It is located just 6 minutes walk to the Mountbatten MRT station. It is expected to cost close to $2000 per square foot. The Reserve Residences are expected to be completed by 2022, and construction is anticipated to begin in 2022. With a range of unit types from studios to four-bedroom suites, residents will be able to find the perfect place to live.

The developer has extensive experience in the retail and residential industries. It is also concurrently developing One Holland Village, a mixed-use development in the heart of Holland Village. The Reserve Residences have a Rest of Central Region zoning. The reserve residences are expected to provide full lifestyle amenities for residents, as well as connect them to the city by public transportation. A public tender was held for the project, and the winning bidder is a joint venture between the Far East Organization and Sino Group.

The property is a mixed industrial as well as domestic building that remains on a land area of regarding 2,083 sq ft, with a complete GFA of 8,715 sq ft. It is outfitted with lift accessibility throughout all five degrees as well as has a personal parking area with 5 parking area.

The entire property is presently rented to a veterinary centre with personnel quarters, indicating it can give a successful customer with instant rental earnings. 200 Bukit Timah is a brief ignore the Newton MRT Interchange Station on the North-South and Downtown Lines. It is likewise bordered by features like the Novena Square, Square 2 and United Square mall, Newton Food Centre and medical care complicated Health City Novena.

Michael Tay, head of capital markets in Singapore at CBRE, thinks that the residential property will delight in future resources and rental upsides, underpinned by the continuous rejuvenation of the Orchard Road and Novena areas. He expects strong capitalist passion in the property, along with rate of interest from owner-occupiers seeking a structure suitable for calling and also signs civil liberties.

He includes that the effective customer can check out a number of value-add angles to rearrange the possession, based on authorizations from the pertinent authorities. This consists of utilizing the building for F&B establishments, showroom, fitness center, commercial institution or co-living functions, amongst others.

The EOI exercise for 200 Bukit Timah will close on July 27 at 3pm.