Two four-storey freehold buildings at Kim Keat Road for sale with S$15.7m guide price

TWO four-storey-plus-attic buildings at 16 and 18 Kim Keat Road have been put up for sale via expression of interest with a collective guide price of S$15.7 million, announced exclusive marketing agent SRI Capital Market on Tuesday.

With a total land area of about 3,448 square feet (sq ft), the site has a gross plot ratio of three and a total gross floor area (GFA) of about 10,495 sq ft. This translates to S$1,495 per square foot on the existing GFA. The site also has main road frontage and an in-built mechanical car parking system, said SRI Capital Market.

The pair of freehold buildings are zoned for residential, with commercial use on their first storeys. On the ground floor, there are two units currently approved for restaurant use, while its second to fourth floors comprise 17 rooms collectively.

"The property is ideal and has potential for co-living and student hostel usage, subject to relevant authorities' approval." With private tertiary education institutions such as Curtin Singapore and East Asia Institute of Management nearby, the students will find the location convenient, said SRI Capital Market's managing partner Low Choon Sin.

Standing just outside the Balestier conservation area, the site is about a three-minute walk to Whampoa Food Centre, a hawker centre known for its variety of local dishes, and Shaw Plaza, currently undergoing refurbishment.

Noting the nearby HealthCity Novena, an integrated medical hub which comprises Tan Tock Seng Hospital, Mr Low added: "The area is poised with a promising crowd catchment and strong demand pool of students and healthcare workers."

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According to SRI Capital Market, there is strong interest from property funds, family offices and high net worth investors to acquire boutique buildings in the central area.

The pair of buildings come with two separate land titles.

Interested buyers can submit their offers before the expression of interest closes on June 15 at 3pm.

READ MORE: 

• Pair of adjoining conservation shophouses at Neil Road up for sale

• High Street Centre makes second attempt at collective sale with S$800m reserve price

• High Street Plaza near Singapore River launched for collective sale at S$239m