Joo Chiat freehold commercial building up for sale with S$20m indicative price

A FREEHOLD four-storey commercial building with an attic at 118 Joo Chiat Road has been launched for sale with an indicative price of about S$20 million. This works out to S$1,077 per square foot, based on the existing gross floor area of about 18,571 sq ft.

The property sits on a 4,686 sq ft site, which is zoned for "commercial" use under the Urban Redevelopment Authority's Master Plan 2014. The building is currently approved for shops on the ground floor and offices on the upper floor.

There is also a mechanical car park that can house up to nine cars in the building. According to marketing agent JLL, the incoming buyer has potential naming and signage rights for the building.

The site - located near the Paya Lebar precinct which has been undergoing rejuvenation and redevelopment - is a 10-minute walk from Paya Lebar and Eunos MRT stations.

The expression of interest exercise for the property closes on May 14, 2019, at 3pm.