Katong Point at Joo Chiat Road for sale at $100m

The commercial building is located near the upcoming train station.

Homebuyers may be interested in buying a four-storey freehold commercial building, Katong Point, located at 451 Joo Chiat Road, which will be on sale on 26 October.

According to Cushman & Wakefield, the building costs $100m and is near the Marine Parade Mass Rapid Transit Station, which is still under development.

READ: Shophouse transaction volume drops 49.3% QoQ in Q3

Katong Point, which also has a basement carpark, offers food & beverage, lifestyle, wellness, education, and childcare services in communities in Katong, Marine Parade, and Mountbatten neighbourhoods.

The property is approximately 13,346 square feet (sq. ft.) and a gross floor area of over 47,540 sq. ft.

Foreigners are qualified to buy the property with no Additional Buyer's Stamp Duty (ABSD) and Seller's Stamp Duty (SSD) payable because Katong Point is zoned as commercial. 

Also, an “in-principle approval for further strata subdivision had previously been obtained."