New commercial building in Upper Changi Road North for sale at S$38m

A NEW commercial building at 933 Upper Changi Road North has been put up for sale via expression of interest with a guide price of S$38 million.

The three-storey building has a built-up area of 18,986 square feet (sq ft), which works out to about S$2,000 per square foot (psf). The plot ratio is 1.4.

Sitting on a freehold site of approximately 13,561 sq ft, the property includes 12 carpark lots.

Clemence Lee, senior director of capital markets at CBRE, noting the building's location within a densely populated residential enclave, said: "Given the lack of immediate retail facilities and amenities in the neighbourhood, 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."

Under the URA's 2019 Master Plan, the site is zoned commercial, which means it is available for purchase to foreigners. There will also be no Additional Buyer's Stamp Duty (ABSD) or Seller's Stamp Duty (SSD) imposed on the property transaction.

CBRE, the sole marketing agent, said on Wednesday that the successful buyer will enjoy potential naming and signage rights to the building. Interested parties are invited to place their offers by 3pm on April 28.