Archive for category: Misc

The second time a property at The Bencoolen has been up for auction, five strata-titled office units will be put on the block by Knight Frank for $7.8 million. Located in district 7, the 99-year leasehold units with 71 years remaining have a gross floor plot ratio of 4.2 and spread across 4,198 sq ft.

The property has a variety of different uses, allowing for both commercial and residential purposes. It is equipped with a reception area, conference room, general office space, meeting room, partitioned offices, pantry, and a store. Plus, the same level units face the building’s lift lobby.

The location of Tengah Plantation EC is excellent, being near shopping malls and other amenities. It is also easily accessible, with good public transport links. The development has a variety of facilities and amenities, including a multi-purpose clubhouse, gym, swimming pool, and children’s play area. Residents can also enjoy the convenience of 24-hour security and is well-lit at night. In addition, there is ample parking for residents to use. Tengah Plantation Close EC is an ideal home for those looking for a luxurious lifestyle. It has everything you need for a comfortable and enjoyable living experience.

The development on 180B Bencoolen Street offers 182 apartments, 70 offices, and 95 shop units, as well as amenities like swimming and wading pools, a clubhouse, a multi-purpose hall, a tennis court, saunas, and a gymnasium. The basement and the second and third storeys provide ample car-park space at reasonable rates.

Great connectivity is offered through its proximity to Rochor and Bugis MRT Stations. Units typically rent out for between $3.40 and $6.50 psf per month, on average at $5.10 that makes landlord’s enjoy a rental yield of 3.8%, compared to surrounding buildings like Bugis Cube and Bylands Building that have a yield of 3.7% and 2.9%, respectively.

One retail space was sold this year for $1.57 million ($6,070 psf) on April 14, sold at a profit of $1.01 million for the seller who bought the property for $555,582 ($2,151 psf) in 2000.

Sharon Lee, head of auctions at Knight Frank, comments on the property being rare and in good condition. “The unit is lift-facing, and the restrooms are outside the subject units, hence not included in the floor area”, adds Lee.

The Bencoolen has shown to be a very lucrative property with units having been (caveats lodged) sold for about $1,608 psf, in the last 12 months. This makes the upcoming Knight Frank auction for five office units to be put up on the block for $7.8 million, a great opportunity that has a lot to offer. The auction will take place on November 16th.