In a promising opportunity for investors, two freehold commercial properties are now on the market, located at 453 Balestier Road and 268 River Valley Road, with a combined asking price of $75 million. The properties, available through an expression of interest exercise with submissions due by June 2, can be purchased individually or as a portfolio, appealing to a wide range of potential buyers.
The Balestier Road property comprises five amalgamated two-storey conservation shophouses, boasting a substantial gross floor area of approximately 20,089 square feet. Priced at $50 million, this property translates to $2,489 per square foot. The conservation status of the shophouses adds historical charm and character, making them not only functional commercial spaces but also a unique investment opportunity.
The area is known for its vibrant culture and diverse community, which enhances its attractiveness to potential tenants. Given the anticipated rental yield of over 3%, the Balestier property is poised to generate significant returns for investors looking to capitalize on quality freehold assets.
On the other hand, the River Valley Road property features a four-storey serviced apartment complex that includes 12 units along with a retail food and beverage unit. This property is listed for $25 million, equating to $2,924 per square foot. The serviced apartment model caters to a growing segment of the rental market, appealing to both short-term and long-term tenants.
The retail F&B unit complements the residential aspect, providing convenience for residents and attracting foot traffic, which is essential for the success of retail operations. The River Valley location is highly sought after due to its proximity to the central business district and various amenities, making it an attractive spot for potential residents and business operators alike.
Investors are likely to find strong demand for these properties, especially given the current market trends favoring quality freehold assets. The strategic locations of both properties enhance their investment appeal.
Balestier Road is well known for its eclectic mix of eateries, shops, and residential offerings, which contribute to a lively neighborhood atmosphere. River Valley Road, conversely, is recognized for its upscale residential developments and cosmopolitan lifestyle, further solidifying its status as a prime investment destination.
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News Source: Edgeprop
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