11 shop units at Balestier Point going for $68m

The units, located on the ground floor and second storey of Balestier Point, can be bought individually or collectively, with the smallest priced at about $1.2 million.
Dated: 06-Feb-2020

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

The 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 unit priced at about $1.2 million, marketing agent Savills Singapore said yesterday.

They are located on the ground floor and the second storey of Balestier Point, which has 18 storeys and a basement.

The units have shop frontage, and the 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 used as restaurants, while other potential uses - subject to approval - include cafes, fitness centres and showrooms.

Foreigners and companies can buy the properties. The additional buyer's stamp duty and seller's stamp duty are not applicable.

Balestier Point is served by the Pan-Island and Central expressways and is a 10-minute drive from Raffles Place and Marina Bay.

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

Source: Straits Times