SINGAPORE — EDMUND TIE, the only advertising agent, is very happy to supply the prime freehold carpark in Holland Road Shopping Centre for sale by Expression of Interest (EOI). The subject land enjoys infrequent coveted freehold tenure. Situated at the cellar level of Holland Road Shopping Centre, the carpark includes a strata floor region of 1,503 sq m (roughly 16,178 sq feet ).
Holland Road Shopping Centre is a notable landmark using a 78-metre broad frontage along Holland Avenue and it occupies the most strategic place at the entry of the Holland Village / Chip Bee Gardens precinct.
The subject property provides a handy parking place and is popular among drivers visiting the Holland Village / Chip Bee Gardens precinct. With higher patronage within this hot F&B and lifestyle enclave, coupled with a lack of parking areas in the area, the carpark enjoys high occupancy and parking turnover.
Surrounded by developed and wealthy residential property, the precinct can be expected to enjoy increased growth in patronage using a projected 2,400 housing units from new jobs which are presently under development in the area, including RoyalGreen, Fourth Avenue Residences, Van Holland and Leedon Green.
The executive manager of investment advisory, Swee Shou Fern, commented,”Strata branded carparks are closely held and seldom available for sale. Strategically situated in an extremely prosperous lifestyle hub, the freehold carpark provides a powerful and steady cash stream. This kind of investment opportunity is difficult to find and we anticipate keen attention from investors who want to capitalise to the tight supply of parking spaces within this enclave, with possible funds upside out of a collective economy. The carpark represents 25 percent of their entire strata region in MCST 675.”
Since the land is zoned commercial, it isn’t exposed to an extra purchaser’s stamp duty or vendor’s stamp duty and can be eligible for purchase by both foreign and local buyers. The indicative guide price for your house is in the Assortment of $32m.