HDB commercial strata unit in Bedok North going for $24 mil
A business strata unit at 215 Bedok North Street 1 is on the market place for $24 million, along with CBRE as the exclusive advertising and marketing agent. The unit, on the second level of a two-storey business building, has a strata space of 16,178 sq ft and the indicatory guide price works out to $1,483 psf on the strata location. Firms and immigrants can acquire the subject building without any added purchaser’s or seller’s stamp responsibility required on the sale.
The area brings in young, wealthy residents, profiting the asset by placing it for flexible mid- to long-term leasing. Footfall is additionally supported by neighboring establishment hubs like Changi Business Park and ESR Biz Park @ Chai Chee.
Situated in the Bedok Town Centre district, the unit is close to various community facilities, providing Bedok Market and Hawker Centre, Bedok Town Library and Kampong Chai Chee Community Centre. It is additionally near to the Bedok Integrated Transportation Hub, that includes Bedok Shopping center on New Upper Changi Roadway, an air-conditioned bus interchange and a link to the Bedok MRT Terminal on the East-West Line.
“These types of business HDB assets with sizable floor plates in mature areas are scarce and have strong hiring need from different lessee accounts, including schools, agencies and workplaces,” says Michael Tay, head of resources markets, Singapore, at CBRE. He adds the unit is currently rented to Singapore Pools Betting Centre, featuring an enticing investment prospect with a recognized renter.
The HDB unit is going to be marketed through an expression of interest exercise that closes on July 10.
Tay even claims the unit available supplies “a possibility for clients looking for defensive purchases with accretive yield capacity”. Located in an older HDB center going through fast revival, it places to take advantage of the development of new HDB condos and private condominiums just like Sky Eden @ Bedok, positioned at Bedok Central, in just a three-minute walk of the Bedok integrated transportation center and facilities.