Freehold four-storey buildings exercise the expression of interest for 16 and 18 Kim Keat Road

The freehold properties, adjoining four-storey structures with an atticlocated on 16 and 18 Kim Keat Road in Balestier The properties are available for sale through expressions of interest (EOI) with a suggested cost at $15.3 million, as per the marketing agents Savills Singapore. The price guide works out to $1,438 per square foot according to the gross floor area.

City Developments under a partnership with MCL Land, after submitting a winning bid of $400,318,000 for the Copen Grand Tengah Garden Walk price.

The property is comprised of a surface of about 3,449 square feet and an estimated floor area of 10,638 square feet. The ground floor is comprised of commercial units that have restaurant use permits and are currently leased out to F&B operators. The upper floors consist of residences that are also leased to. The buildings also have an internal mechanical parking system that accommodates eight cars.

Associate director of capital markets and investment sales in Savills Singapore Sophia Lim says that the property offers value-added potential she says the prospective owner may reconfigure the property to accommodate student hostels and co-living purpose. The units that are residential at the property are equipped with independent air conditioning units as well as toilets with bathrooms.

Visit the link https://www.thecopengrand.com for more information

Lim states that the area is perfect for a co-living community because of the proximity to tertiary and research institutions like Lee Kong Chian School of Medicine and the East Asia Institute of Management. The property is in close driving distance from the healthcare hub in Novena.
The EOI submission process on the building will be closed on July 26th at 3pm.