CBRE Singapore Clemence Lee (利伟强) has been appointed as the exclusive marketing agent for a brand new three-storey commercial building located at 933 Upper Changi Road North for sale. 

Sitting on a freehold site of approximately 13,561 square feet, the subject property enjoys prominent visibility with its 70-meter dual road frontage along Upper Changi Road North and Mariam Way. The three-storey building has a built-up area of 18,986 square feet and comprises 12 carpark lots. Under the 2019 Master Plan, the site is zoned “Commercial” and has a plot ratio of 1.4.

The guide price for 933 Upper Changi Road North is S$38 million, which works out to about S$2,000 per square foot on the gross floor area.

Clemence Lee (利伟强), Senior Director of Capital Markets at CBRE says, “The property is strategically located within a densely populated residential enclave of more than 15 condominium projects housing a total of more than 6,000 residential units. Given the lack of immediate retail facilities and amenities in the neighborhood, investors can explore leasing part of the space to an anchor tenant such as a supermarket and other spaces for complementary trades – including health and beauty retailers, childcare facilities, fitness centers and clinics. Alternatively, the building can also be used for offices, commercial schools and associations, subject to approval from relevant authorities.”

Mr Lee continues, “The property will also be able to capitalize on its proximity to several mega projects such as Changi East Industrial Zone, Changi City and Changi East Urban District. As plans for these mega projects come to fruition, the asset will be well-positioned to benefit from the spillover of commercial activities and allow the incoming owner to enjoy strong capital appreciation in the medium to long term horizon.”

The successful buyer will also enjoy potential naming and signage rights to the building. Given its excellent attributes and potential capital appreciation, the subject property is expected to garner strong interest, not only from investors, but also owner-occupiers.

As the property sits on a site zoned for “Commercial” use, foreigners are eligible to purchase the subject property. There will be no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) imposed on the property transaction.

The property is well-connected to other parts of Singapore via public and private transportation. Upper Changi and Tampines MRT stations are both a short bus ride away and numerous bus services can be found along Upper Changi Road North. The asset is also within proximity to several arterial roads and expressways such as the Pan-Island Expressway (PIE), Tampines Expressway (TPE) and East Coast Parkway (ECP)

The sale will be by way of Expression of Interest, which closes on 28 April 2021, Wednesday at 3pm.

To request a copy of the Information Memorandum please email Clemence Lee (利伟强), Senior Director of Capital Markets at CBRE via the contact form below.