Six-floor carpark at Textile Centre for sale at $36 mil

The commercial property is next to the Kampong Glam conservation area, that consists of restaurants, dining establishments, retail stores, and recreation locations. Some other business developments in the vicinity consist of City Gate, The Concourse, Parkroyal on Beach Road, along with Duo.

According to JLL, carparks are a sturdy property class with stable repeating earnings and also fairly minimal routine service and operating costs. The carpark is presently taken care of by Mack Parking. Strata-titled carparks seldom come onto the marketplace, without extra supply in the pipe, given restrictions on the strata neighborhood of common carparks, includes JLL.

Tembusu Grand condo price

The six-floor strata-titled carpark at Fabric Centre has been offered with a guide price of $36 million. According to the advertising representative, JLL, this specific sale consists of a surrounding plot of business land that is utilised as the carpark’s driveway.

The building will certainly be offered in a private treaty transaction and also is marketed by Terry Wong including Alaric Yeo, top supervisor together with higher supervisor, respectively, of JLL’s capital markets team

The carpark consists of 685 auto garage and 40 motorbike lots. The overall strata area make up about 30% of the complete strata place of the development. By share worth, this has to do with 1.02% of the whole property. The rest of the building includes a seven-storey store podium with 150 retail units, six business office levels with 63 office units, as well as 12 residential floors that house 132 units.

The 200,456 sq ft carpark extends the 3rd to seventh floors of Fabric Centre, in itself a 25-storey, mixed-use property at 200 Jalan Sultan in District 7. Textile Centre positions at a popular central place within the Beach Route area, at the junction of Jalan Sultan and even North Bridge Road.

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