CBRE Pte Ltd is pleased to
announce the launch of the Expression of Interest of Avant at Aljunied, a prime
city fringe residential block.
Avant at Aljunied is an eight-storey
standalone building located at 10 Aljunied Road, off the main junction of
Geylang Road. The building received its Temporary Occupation Permit in October
2012 and has 50 apartments comprising studio, one- and two-bedroom units. 43
out of the 50 apartments are less than 540 sq ft. The amenities of the
development include a swimming pool, securitised card access and mechanised
car-parking system.
The property has a 99-year
tenure with effect from 22 March 2012.
The regular shaped plot has
an area of approximately 9,806 sq ft and has a Gross Floor Area of
approximately 30,108 sq ft, inclusive of balconies.
The property is currently fully
leased to a single tenant.
The property is located in
a strategic location that is well served by major public transportation nodes.
The Central Business District (CBD) is a short drive away whilst Aljunied MRT
Station is approximately a 300m walk away. The area connects easily to the rest
of the island via major arterial roads and expressways, eg Pan Island
Expressway (PIE) and Kallang Paya Lebar Expressway (KPE). The upcoming Paya
Lebar Commercial Hub is also a short drive away.
The guide price is $42 –
$44m, which translates to $1,394 psf - $1,461 psf on the Gross Floor Area.
Transactions in similar developments
in the immediate vicinity like Suites@Guillemard and Suites@Sims have achieved
$1,500 – $1,900 psf in preceding months.
“This is an
extremely rare opportunity for investors to acquire an entire residential block
in prime city fringe location. Apartments such as those in Avant at Aljunied
are popular with tenants given its size and proximity to both the CBD and MRT
Station,” said Galven Tan, Associate Director, Investment Properties, CBRE. “This
opportunity will appeal to investors looking for stable returns given the
current low interest rate environment.”
“The owner has
received several unsolicited offers and thus appointed CBRE to carry out a
structured exercise to find a buyer.”
The Expression of Interest closes at 3pm on 24
September 2013.
About
CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company
headquartered in Los Angeles, is the world’s largest commercial real estate
services and investment firm (in terms of 2012 revenue). The Company has approximately 37,000
employees (excluding affiliates), and serves real estate owners, investors and
occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE
offers strategic advice and execution for property sales and leasing; corporate
services; property, facilities and project management; mortgage banking;
appraisal and valuation; development services; investment management; and
research and consulting. Please visit our website at www.cbre.com.
Disclaimer:
Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
