Six-floor carpark at Textile Centre for sale at $36 mil
The building is going to be marketed in a private treaty deal and also is showcased by Terry Wong and even Alaric Yeo, top supervisor together with senior supervisor, specifically, of JLL’s capital markets professionals
The carpark comprises 685 car garage and 40 bike lots. The total strata area accounts for about 30% of the total strata place of the development. By share market value, this has to do with 1.02% of the complete development. The remainder of the structure includes a seven-storey store podium with 150 retail units, 6 office floors with 63 workplace units, and 12 home floors that place 132 units.
The commercial property is next to the Kampong Glam sanctuary, that comprises dining establishments, dining establishments, retail shops, and also recreation venues. Some other commercial developments in the vicinity include City Gate, The Concourse, Parkroyal on Beach Roadway, and even Duo.
According to JLL, carparks are a resistant possession class with secure repeating revenue and also reasonably low maintenance and operating expense. The carpark is currently handled by Mack Parking. Strata-titled carparks rarely come onto the market, without extra supply in the pipe, provided restrictions on the strata neighborhood of common carparks, includes JLL.
The 200,456 sq ft carpark covers the 3rd to 7th floors of Fabric Centre, in itself a 25-storey, mixed-use building at 200 Jalan Sultan in Area 7. Fabric Centre rests at a noticeable core location in the Beach Road location, at the link of Jalan Sultan and even North Bridge Roadway.
The six-floor strata-titled carpark at Fabric Centre has already been offered with an overview rate of $36 million. According to the advertising representative, JLL, this particular transaction consists of a nearby plot of commercial land which is utilised as the carpark’s driveway.