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

The 200,456 sq ft carpark spans the third to 7th floorings of Textile Centre, itself a 25-storey, mixed-use building at 200 Jalan Sultan in District 7. Fabric Centre rests at a famous core place at the Beach Road place, at the junction of Jalan Sultan and North Bridge Roadway.

The six-floor strata-titled carpark at Fabric Centre has been put up for sale with a guide rate of $36 million. According to the advertising broker, JLL, this particular transaction includes a nearby plot of business land which is utilised as the carpark’s driveway.

TMW Maxwell showflat location

The carpark makes up 685 auto garage also 40 bike lots. The total strata location represent around 30% of the total strata location of the project. By share market value, this has to do with 1.02% of the whole development. The remainder of the structure contains a seven-storey retail platform with 150 retail units, 6 workplace storeys with 63 office units, and 12 home levels that house 132 units.

The property is going to be marketed in a nonpublic treaty deal as well as is showcased by Terry Wong and even Alaric Yeo, senior supervisor and also senior supervisor, respectively, of JLL’s financing markets organization

According to JLL, carparks are a resistant possession class with secure persisting revenue and also relatively affordable maintenance and operating costs. The carpark is presently managed by Mack Parking. Strata-titled carparks rarely appear onto the marketplace, without any extra source in the pipe, provided limitations on the strata class of communal carparks, puts JLL.

The property is alongside the Kampong Glam sanctuary, which comprises restaurants, restaurants, retail shops, and entertainment places. Some other business developments around include City Gate, The Concourse, Parkroyal on Beach Road, along with Duo.

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