HDB commercial strata unit in Bedok North going for $24 mil
A business strata unit at 215 Bedok North Street 1 is on the marketplace for $24 million, along with CBRE as the private advertising agent. The unit, on the 2nd ground of a two-storey retail building, has a strata area of 16,178 sq ft and the suggestive guide cost works out to $1,483 psf on the strata location. Business and immigrants can purchase the subject real estate with no extra purchaser’s or seller’s stamp obligation enforced on the purchase.
Located in the Bedok Town Centre district, the unit is close to numerous neighbourhood facilities, providing Bedok Market and Hawker Centre, Bedok Public Library and Kampong Chai Chee Community Centre. It is also near to the Bedok Integrated Transportation Hub, which includes Bedok Shopping mall on New Upper Changi Road, a cool bus change and a link to the Bedok MRT Terminal on the East-West Line.
“These kinds of market HDB assets with sizable ground plates in mature communities are scarce and have good renting demand from different tenant accounts, consisting of institutions, agencies and offices,” claims Michael Tay, head of capital markets, Singapore, at CBRE. He adds the unit is currently rented out to Singapore Pools Betting Centre, giving an appealing financial investment option with a recognized occupant.
Tay also claims the unit up for sale provides “an opportunity for entrepreneurs looking for protective procurements with accretive return capacity”. Situated in an older HDB center undertaking rapid restoration, it places to take advantage of the progression of new HDB condos and private condos like Sky Eden @ Bedok, positioned at Bedok Central, in just a three-minute step of the Bedok integrated transport hub and services.
The HDB unit will be marketed with an expression of interest exercise that closes up on July 10.
The area attracts young, wealthy locals, profiting the investment by placing it for adaptable mid- to extensive leasing. Footfall is also maintained by nearby business hubs like Changi Business Park and ESR Biz Park @ Chai Chee.
