Six-floor carpark at Textile Centre for sale at $36 mil
The 200,456 sq ft carpark covers the 3rd to seventh floorings of Textile Centre, in itself a 25-storey, mixed-use structure at 200 Jalan Sultan in Area 7. Textile Centre positions at a popular core place in the Beach Road area, at the link of Jalan Sultan and even North Bridge Road.
The six-floor strata-titled carpark at Textile Centre has already been offered with an overview cost of $36 million. According to the promotion broker, JLL, this particular transaction consists of a nearby plot of market land that is utilised as the carpark’s driveway.
The carpark comprises 685 car garage also 40 motorbike lots. The complete strata area accounts for approximately 30% of the complete strata location of the project. By share value, this has to do with 1.02% of the complete development. The rest of the building consists of a seven-storey retail store podium with 150 retail units, 6 workplace floors with 63 office units, and also 12 residential levels that house 132 units.
According to JLL, carparks are a resilient property class with steady persisting revenue and fairly minimal maintenance and operating costs. The carpark is presently taken care of by Mack Parking. Strata-titled carparks rarely appear onto the marketplace, with no extra supply in the pipeline, provided constraints on the strata class of communal carparks, includes JLL.
The real estate will be offered in a nonpublic treaty sale and is marketed by Terry Wong and Alaric Yeo, senior director and also top manager, specifically, of JLL’s financing markets professionals
The building is next to the Kampong Glam sanctuary, which makes up dining establishments, dining establishments, retail shops, and recreation locations. Some other profitable projects around consist of City Gate, The Concourse, Parkroyal on Beach Roadway, along with Duo.