Six-floor carpark at Textile Centre for sale at $36 mil
The building will certainly be marketed in an exclusive treaty sale and is marketed by Terry Wong including Alaric Yeo, senior supervisor and also senior supervisor, specifically, of JLL’s financing markets team
The 200,456 sq ft carpark spans the 3rd to 7th floorings of Fabric Centre, itself a 25-storey, mixed-use structure at 200 Jalan Sultan in Area 7. Textile Centre rests at a prominent core place in the Beach Road area, at the link of Jalan Sultan and also North Bridge Road.
The six-floor strata-titled carpark at Textile Centre has already been offered with a guide price of $36 million. According to the promotion agent, JLL, this particular transaction includes a surrounding plot of commercial land which is utilised as the carpark’s driveway.
The carpark comprises 685 auto parking spaces plus 40 bike lots. The total strata location make up about 30% of the total strata location of the project. By share value, this is about 1.02% of the complete development. The rest of the structure includes a seven-storey store podium with 150 retail units, six office floors with 63 office units, and 12 non commercial levels that place 132 units.
The property is beside the Kampong Glam conservation area, which makes up restaurants, dining establishments, retail shops, and leisure venues. Other commercial developments around include City Gate, The Concourse, Parkroyal on Beach Roadway, and Duo.
According to JLL, carparks are a resistant possession class with stable reoccuring earnings and also reasonably minimal servicing and also operating expense. The carpark is presently handled by Mack Parking. Strata-titled carparks hardly ever appear onto the market, without added source in the pipeline, provided constraints on the strata class of communal carparks, puts JLL.
