Business

11 freehold commercial units at Balestier Point for sale at $68m

A portfolio of 11 freehold commercial units at mixed-use development Balestier Point is up for sale at $68 million.

Unit sizes range from 269 sq ft to 5,609 sq ft, making up a total strata area of about 19,787 sq ft.

They can be bought individually or collectively, with the smallest priced at about $1.2 million, marketing agent Savills Singapore said yesterday.

They are on the first and second storeys. Balestier Point has 18 storeys and a basement.

The units have shop frontage while ground floor units also have main road frontage.

The portfolio comprises about 31.7 per cent of share value within Balestier Point, and the prospective buyer will command a significant stake in the management corporation strata title, said Savills.

Selected units have approval to be restaurants, while other potential uses - subject to approval - include cafes, fitness centres and showrooms.

Foreigners and companies may buy the properties. Additional buyer's stamp duty and seller's stamp duty are not applicable.

The expression of interest exercise closes at 3pm on March 17.

Separately, a two-storey commercial podium at a mixed-use block near the Orchard Road shopping belt is up for sale via expression of interest with an indicative price of around $62.5 million.

This works out to around $3,800 per sq ft on the podium's strata area of 16,459 sq ft, marketing agent CBRE said yesterday.

The street-fronting freehold podium at the 10-storey Rise@ Oxley in Oxley Rise takes up the first two floors. The remaining levels are occupied by 120 residential units, which have all been sold.

The podium has a share value of 28 per cent out of the entire block and has 14 basement parking spaces. - THE STRAITS TIMES

BUSINESS & FINANCE