Nursing home on Sims Avenue for sale at $27 mil
The property presently has public spaces on the initial flooring, consisting of the kitchen and eating spot, an activity area, a local library, a team canteen and even a workplace space. Wards together with private areas stand on the top grounds, whereas the cellar homes training rooms and a rehab centre. The structure comes with a lift that services all grounds as well as enough personal parking lots, includes Lock.
The property lies just off the way out of the Kallang-Paya Lebar Expressway. The bordering community mostly consists of shophouses as well as light industrial structures situated around Sims Avenue and also Geylang Road. Lock feels the real property will amass interest from customers within healthcare-related industries, such as clinical companies, hospice or assisted living care service providers, or other assisted living home owners. “It’s rather uncommon for a site zoned for health and wellness and also medical care to go up for sale,” she remarks.
Based on the complete flooring location, the guide price works out to be about $2,278 psf. The structure is currently being run by the proprietors as Charis Manor Nursing Home, a nonpublic center that provides permanent stay, respite services as well as day care programs for the aged people. According to Lock, the property owners are seeking to offer the property on a sale and even leaseback contract. The buyer of the property will definitely rent out the property to the proprietor for three years, with a possible expansion for another two years.
The real estate is a four-storey detached building with a cellar. It has an overall flooring area of approximately 11,859 sq ft. The real property remains on a freehold land area of 6,350 sq ft which is area for health-related and medical care use under the 2019 URA Master Plan. Property with this zoning is assigned for medical facilities, polyclinics including assisted living home.
An assisted living facility situated along Sims Avenue will be added up for sell-off on March 16 with a guide cost of $27 million. It is an owner’s sale, states Lock Sau Lai, top supervisor, auction & sales at Knight Frank, that is taking care of the auction and also is the single advertising firm for the real estate.
Apart from Charis Manor, the proprietors likewise control CSM Academy International, an exclusive education and learning organization being experts in health care assistances and also health worker training.
