Freehold city fringe property along Hindoo Road for sale at $25m

The four-storey commercial building has a gross floor area of approximately 13,970 sqft.

A freehold four-storey commercial building located at 7 Hindoo Road is up for sale via an expression of interest (EOI) exercise with a guide price of $25, an announcement by JLL revealed.

The development occupies a land area of 3,519 sqft and has a gross floor area (GFA) of approximately 13,970 sqft. The $25m guide price reflects approximately $1,970 psf on the total GFA, JLL added.

The site is zoned for commercial use under the 2014 Master Plan and is currently leased to a retail shop on the ground floor and offices on the upper floors. Subject to approval from the relevant authorities, potential uses of the building include food & beverage (F&B), showroom, medical suites and entertainment.

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Each floor within the building houses a regular, column-free layout and can be accessed by lift, the statement added. “The incoming owner has potential naming and signage rights for the property,” JLL noted.

The property is located within walking distance from the Jalan Besar, Farrer Park and Little India MRT stations. Its city-fringe location also means that is a 10-minute drive to the Central Business District (CBD), and is also accessible via the Pan Island Expressway (PIE), Central Expressway (CTE) and East Coast Parkway (ECP).

“With prices of shophouses and boutique buildings located in the CBD reaching record levels, we’re starting to notice that some investors are beginning to divert their attention to city-fringe properties instead as prices have yet to catch-up and rental yields are comparatively higher,” JLL’s senior director Clemence Lee said in a statement. “Coupled with the improving office market fundamentals, we believe that 7 Hindoo road offers a compelling investment opportunity to astute investors.”

The EOI exercise for the property will close on 20 March 2019 at 3 p.m.