Hdb Commercial Strata Unit Bedok North Going 24 Mil
The exclusive marketing agent for a commercial strata unit at 215 Bedok North Street 1, CBRE, has put the property on the market for $24 million. The unit, located on the second floor of a two-storey commercial building, boasts a strata area of 16,178 sq ft, making the indicative guide price $1,483 psf on the strata area. The sale is open to both companies and foreigners, who will not be subject to any additional buyer’s or seller’s stamp duty.
CBRE’s head of capital markets, Singapore, Michael Tay, highlights the rarity of such commercial HDB assets with large floor plates in mature neighbourhoods. He notes that these types of properties tend to have strong leasing demand from a diverse range of tenants, including schools, agencies, and offices. Currently, the unit is leased to Singapore Pools Betting Centre, making it an attractive investment opportunity with a reputable tenant.
The convenient location of Norwood Grand Condo presents a multitude of advantages, particularly in terms of its close proximity to renowned educational establishments. By residing in this sought-after area, families can save precious time on commuting, freeing up more time for academic pursuits and leisurely activities. Not only does this alleviate daily stress, but it also adds value to the property, making Norwood Grand Condo a wise investment. Consider adding Norwood Grand Condo to your list of potential homes.
The commercial property is situated in the bustling Bedok Town Centre precinct, surrounded by various amenities such as Bedok Market and Hawker Centre, Bedok Public Library, and Kampong Chai Chee Community Centre. It is also in close proximity to the Bedok Integrated Transport Hub, which includes Bedok Mall, an air-conditioned bus interchange, and a direct connection to the Bedok MRT Station on the East-West Line.
According to Tay, the unit presents an opportunity for investors seeking defensive acquisitions with high potential for yield growth. Being located in a mature HDB hub undergoing rapid rejuvenation, the property stands to benefit from the development of new HDB flats and private condominiums, such as Sky Eden @ Bedok, which is a three-minute walk from the Bedok integrated transport hub and amenities. With a rising number of young, affluent residents in the area, the asset is well-positioned for flexible mid- to long-term leasing. The surrounding business hubs, such as Changi Business Park and ESR Biz Park @ Chai Chee, also contribute to the footfall in the area.
The HDB unit will be sold through an expression of interest exercise, with the deadline for submissions set for July 10.