As the demand for prime commercial real estate continues to rise, two freehold properties situated along Balestier Road and River Valley Road have come to market with a combined asking price of $75 million.
The first property, located at 453 Balestier Road, consists of five two-storey conservation shophouses, encompassing a gross floor area of approximately 20,089 square feet. This property is being offered with a guide price of $50 million, reflecting its potential as a lucrative investment opportunity.
The Balestier property is particularly noteworthy due to its historical significance and architectural charm, which are appealing to buyers looking for unique commercial spaces. Investors are drawn to the prospects of revitalizing the shophouses, which could serve various purposes such as retail, dining, or office spaces.
Given the area’s increasing popularity, the property is expected to generate strong interest from high-net-worth individuals. Real estate analysts project an attractive rental yield of over 3% when the Balestier property is fully leased, further solidifying its investment potential.
In contrast, the River Valley Road property is a four-storey serviced apartment complex that includes a food and beverage retail unit. This property offers 12 apartment units and is priced at $25 million, translating to approximately $2,924 per square foot.
The serviced apartments are strategically positioned to cater to both local and expatriate tenants, making it a versatile addition to any investment portfolio. The F&B component adds an extra layer of appeal, as it can attract foot traffic from both residents and visitors in the vibrant River Valley area.
Both properties are available for local and foreign buyers, subject to necessary approvals, and they are expected to attract significant interest during the sales process. The expression of interest (EOI) exercise is set to close on June 2, creating a sense of urgency among potential investors.
Given the current market conditions and the rising demand for commercial real estate, these properties represent a timely opportunity for savvy investors looking to capitalize on the lucrative Singaporean market.
The strategic locations of both properties further enhance their appeal. Balestier Road is known for its eclectic mix of retail and dining options, while River Valley Road boasts proximity to the central business district and residential areas.
This positioning makes both properties ideal for attracting a diverse range of tenants, ensuring steady occupancy rates and sustained rental income.
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News Source: Edgeprop
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