Slimming specialist forks out $32m for 4-storey industrial building
AN ageing four-storey freehold industrial building at 243 Alexandra Road, next to the Kwan Yam Theng Buddhist Temple, has changed hands for the third time in four years.
In the latest transaction, home-grown slimming specialist Bottomslim New York is buying the property for S$32 million. This works out to about S$868 per square foot of potential gross floor area.
Located about 450 metres from Redhill MRT Station, the property can be redeveloped into a six-storey building, according to earlier reports.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Singapore office rents in central region fall 1.7 per cent in Q1 after rising for 9 quarters
Singapore retail rents slip 0.4% in Q1 as vacancy rates creep up
Country Garden plans to present debt revamp plan in H2, sources say
Hong Kong home prices rise for first time in 11 months after curbs scrapped
HDB resale prices accelerate, rising 1.8% in Q1 on stronger demand
Private home prices ease to 1.4% rise in Q1; rents fall a further 1.9%