Nursing home on Sims Avenue for sale at $27 mil
On March 16, a nursing home located along Sims Avenue in Singapore will be up for auction with a guide price of $27 million. It is an owner’s sale and is being handled by Knight Frank’s sole marketing agency, Lock Sau Lai, senior manager, auction & sales at Knight Frank.
The property is built on a freehold land area of 6,350 sq ft, with a total floor area of approximately 11,859 sq ft, zoned for health and medical care use under the 2019 URA Master Plan. Offering long-term stay, respite care and daycare services for the elderly, Charis Manor Nursing Home is operated by the owners and currently includes communal spaces on the first floor, wards and private rooms on the upper floors, and a rehabilitation centre and training rooms in the basement.
The surrounding neighbourhood predominantly comprises shophouses and light industrial buildings located along Sims Avenue and Geylang Road. Lock Sau Lai believes that the property will be of interest to buyers in healthcare-related industries, such as medical companies, hospice or assisted living care providers, or other nursing home operators.
What’s more, the building is fitted with a lift servicing all floors and ample private parking lots. It also comes with an outdoor garden area.
The owners may consider a sale and leaseback agreement for the property, wherein the buyer will lease the property back to them for three years with a potential extension for another two Tengah Plantation EC years.
At the guide price of $2,278 psf, the property is a rare find in Singapore, given its zoning and its location just off the exit of the Kallang-Paya Lebar Expressway.
Buyers within the healthcare industry could have the opportunity to purchase a unique property uncommonly available in Singapore – a nursing home located along Sims Avenue. It sits on a freehold land area of 6,350 sq ft, zoned for health and medical care use under the 2019 URA Master Plan. The building has a total floor area of approximately 11,859 sq ft, consisting of a four storey detached building with a basement.
Currently operated by the owners as Charis Manor Nursing Home, the building comprises communal spaces on the first floor, wards and private rooms on the upper floors, and a rehabilitation centre and training rooms in the basement. Additionally, it is fitted with a lift that services all floors, as well as ample private parking lots and an outdoor garden area.
The owners may consider a sale and leaseback agreement for the property, wherein the buyer will lease the property back to them for three years with a possible extension for another two years. With the guide price set at $2,278 psf, Lock Sau Lai believes it will garner interest from healthcare-related industries due to its unique zoning and location.