HDB commercial strata unit in Bedok North going for $24 mil
A commercial strata unit at 215 Bedok North Road 1 gets on the market for $24 million, with CBRE as the restricted marketing agent. The unit, on the second level of a two-storey retail facility, has a strata space of 16,178 sq ft and the suggestive guide cost works out to $1,483 psf on the strata area. Business and immigrants can purchase the subject building without any added customer’s or vendor’s stamp duty imposed on the transaction.
Located in the Bedok Town Centre district, the unit is near different neighbourhood facilities, featuring Bedok Market and Hawker Centre, Bedok Public Library and Kampong Chai Chee Town Centre. It is also near the Bedok Integrated Transport Center, that includes Bedok Shopping center on New Upper Changi Roadway, a cool bus interchange and a link to the Bedok MRT Stop on the East-West Line.
The HDB unit will be sold with an expression of interest exercise that closes up on July 10.
“These types of commercial HDB assets with sizable ground plates in mature neighbourhoods are limited and have strong leasing need from various tenant profiles, consisting of institutions, agencies and workplaces,” says Michael Tay, head of resources markets, Singapore, at CBRE. He includes the unit is already rented to Singapore Pools Betting Centre, featuring an attractive investment option with a recognized lessee.
Tay also claims the unit up for sale supplies “a possibility for entrepreneurs seeking defensive procurements with accretive yield capability”. Situated in an older HDB hub undergoing quick restoration, it stands to benefit from the progression of brand-new HDB condos and private condos like Sky Eden @ Bedok, found at Bedok Central, in just a three-minute walk of the Bedok integrated transportation center and facilities.
The area draws in young, wealthy locals, profiting the investment by positioning it for adaptable mid- to lengthy leasing. Footfall is additionally supported by neighboring business centers like Changi Business Park and ESR Biz Park @ Chai Chee.
