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SG Aljunied residential block on the market

Property Here - Tuesday, August 20, 2013

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The 99-year leasehold Avant at Aljunied (pictured) is up for sale by an expression of interest (EOI) exercise, revealed marketing agent CBRE.

The residential block has a guide price of between S$42 million to S$44 million, which translates to around S$1,394 psf to S$1,461 psf on its gross floor area (GFA) of 30,108 sq ft, inclusive of balcony space.

Located at 10 Aljunied Road, the eight-storey property sits on a 9,806 sq ft land parcel and obtained TOP in October last year. It comprises 50 units of studio and one- to two-bedroom apartments, whereby 43 are below 540 sq ft in size. Facilities include a swimming pool, security-protected card access and mechanised car-parking system.

“This is an extremely rare opportunity for investors to acquire an entire residential block in prime city fringe location. Apartments such as those in Avant at Aljunied are popular with tenants given its size and proximity to both the CBD and MRT station...This opportunity will appeal to investors looking for stable returns given the current low interest rate environment,” said Galven Tan, Associate Director for Investment Properties at CBRE.

The property is currently fully leased to a single tenant.

The EOI exercise will end on 24 September.

 

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories email romesh@allproperty.com.sg