Six-floor carpark at Textile Centre for sale at $36 mil
According to JLL, carparks are a resilient possession class with steady repeating income as well as relatively low routine service and also operating costs. The carpark is presently handled by Mack Parking. Strata-titled carparks seldom enter onto the marketplace, with no added supply in the pipe, given limitations on the strata community of communal carparks, includes JLL.
The carpark comprises 685 auto parking spaces also 40 motorcycle lots. The complete strata area make up about 30% of the overall strata location of the property development. By share worth, this has to do with 1.02% of the whole growth. The remainder of the structure includes a seven-storey store platform with 150 retail units, 6 office levels with 63 workplace units, as well as 12 home levels that place 132 units.
The property is next to the Kampong Glam sanctuary, that makes up dining establishments, restaurants, retail outlets, and also recreation locations. Some other commercial developments in the vicinity consist of City Gate, The Concourse, Parkroyal on Beach Road, and Duo.
The six-floor strata-titled carpark at Fabric Centre has recently been put up for deal with a guide rate of $36 million. According to the promotion agent, JLL, this specific transaction consists of a surrounding plot of commercial land which is made use of as the carpark’s driveway.
The 200,456 sq ft carpark covers the 3rd to seventh floors of Fabric Centre, itself a 25-storey, mixed-use structure at 200 Jalan Sultan in District 7. Fabric Centre sits at a famous central place at the Beach Road location, at the junction of Jalan Sultan and also North Bridge Road.
The property will certainly be offered in a nonpublic treaty deal as well as is promoted by Terry Wong and Alaric Yeo, higher supervisor and also senior manager, respectively, of JLL’s financing markets professionals