Cushman & Wakefield has been appointed as the marketing agent for the sale of a 5-storey conserved commercial building at 167 & 169 Selegie Road. The freehold property sits on a site with land area of approximately 2,956 sq ft and has a total floor area of about 10,292 sq ft.
“167 & 169 Selegie Road is an exceptional investment opportunity, given its freehold tenure, prime city fringe location in a historic precinct and close proximity to two MRT stations. The property is likely to appeal to end-users such as design houses, co-working operators, and commercial schools, amongst others, seeking to own a prominent and historic building for their own operations, or opportunistic funds and investors looking for investment-grade assets with value-enhancement or yield generation potential.” – Mr. Shaun Poh, Executive Director, Capital Markets
It is located on the city fringe along Selegie Road, which forms part of the “Mount Sophia Conservation Area” within the Bras Basah-Bugis district. The precinct is a bustling arts, cultural, educational and entertainment destination. It is home to the National Museum of Singapore and the Singapore Arts Museum, reputable educational institutes like the Singapore Management University, the School of the Arts and Kaplan Singapore, as well as entertainment and retail venues such as Bugis Junction, The Cathay and Wilkie Edge.
The subject locality enjoys catchment from nearby private and public residential estates as well as spill over pedestrian traffic from neighbouring retail malls such as Wilkie Edge, Pomo and Peace Centre. The area is also frequented by both tourists and locals visiting the adjacent Little India.
The property is only a few minutes’ drive away from the popular Orchard Road shopping belt and the Central Business District. Public transportation facilities are readily available with Little India MRT Interchange Station on the North East Line and the upcoming Rochor MRT Station on the Downtown Line, all within walking distance from the property.
167 & 169 Selegie Road has an asking price of $20 million and will be sold with existing tenancy.
The Tender exercise will close on 19 October 2017 (Thursday) at 3.00pm.