3-storey Freehold Commercial Property for sale at $38 mil along Upper Changi Road North

A brand-new three-storey business construction at 933 Upper Changi Road North was set out there at a direct price of $38 million ($2,000 psf on gross floor area).

Canninghill Piers River Valley price is set to house about 700 units in two residential towers.

It’s a built-up region of 18,986 sq feet and room to accommodate 12 carpark lots.

“The property is located within a densely populated residential enclave of over 15 condos with over 6,000 residential units. Given the absence of instant retail amenities and facilities in the area, investors may research renting part of their area to a anchor tenant such as a grocery store and other areas for complementary transactions — such as health and beauty retailers, childcare centers, fitness facilities and practices,” states Clemence Lee, senior manager of capital markets at CBRE.

The construction may also be utilized for offices, industrial colleges, in addition to institutions, ” he adds. Underneath the 2019 Master Plan, the website is zoned”industrial” and it’s a plot ratio of 1.4.

After Changi East Industrial Zone, Changi City waterfront neighborhood and Changi East Urban District are created, the land may benefit from the spillover of industrial actions, resulting in strong capital appreciation,” states Lee.

Foreigners are entitled to buy the house with no extra purchaser’s stamp duty or vendor’s stamp duty levied.

The purchase will be through an Expression of Interest practice, that will close on April 28 at 3pm.