Six-floor carpark at Textile Centre for sale at $36 mil

The carpark comprises 685 auto garage plus 40 bike lots. The overall strata area represent about 30% of the total strata area of the project. By share market value, this is about 1.02% of the whole growth. The remainder of the building consists of a seven-storey retail podium with 150 retail units, six business office storeys with 63 office units, and also 12 non commercial floors that place 132 units.

The six-floor strata-titled carpark at Textile Centre has been put up for deal with a guide cost of $36 million. According to the advertising agent, JLL, this particular transaction includes an adjacent plot of business land that is used as the carpark’s driveway.

The Hill @ One North condominium

The property is going to be sold in an exclusive treaty transaction as well as is marketed by Terry Wong and Alaric Yeo, senior director together with top manager, respectively, of JLL’s capital markets organization

The 200,456 sq ft carpark covers the third to seventh floors of Fabric Centre, itself a 25-storey, mixed-use building at 200 Jalan Sultan in Area 7. Textile Centre rests at a famous main location within the Beach Road location, at the junction of Jalan Sultan and even North Bridge Roadway.

The property is beside the Kampong Glam conservation area, which comprises restaurants, eateries, retail stores, as well as entertainment locations. Other commercial developments around consist of City Gate, The Concourse, Parkroyal on Beach Roadway, along with Duo.

According to JLL, carparks are a resilient property class with secure reoccuring income and also relatively minimal routine service and even operating costs. The carpark is presently managed by Mack Parking. Strata-titled carparks hardly ever appear onto the marketplace, without added source in the pipeline, given limitations on the strata subdivision of communal carparks, puts JLL.