Savills Singapore, as exclusive marketing agent, is pleased to announce for sale by Expressions of Interest, a rare commercial redevelopment property right in the heart of Bedok Town Centre, known as Bedok 101 (‘Subject Property’).
Bedok 101 is in Bedok Town Centre, within Bedok, the largest HDB town in Singapore with an estimated private and public resident population of more than 300,000. As part of the Remarking Our Heartland initiative by the government, several major rejuvenation projects were undertaken namely the development of Heartbeat@Bedok as well as the Bedok Integrated Transport Hub and Mall. These mega projects improved the infrastructure as well as injected vibrancy into the whole town.
The Subject Property is situated along Bedok North Avenue 3 right at the busy junction with 2 main arterial roads of Bedok Central and Bedok North Street 1. It enjoys a 30-meter frontage facing the busy Bedok North Ave 3 road with the added advantage of being at a higher ground level to the main road.
The Subject Property enjoys good double frontage and healthy footfall especially from the residential HDB flats in the immediate vicinity. In terms of accessibility, the Subject Property is well served by major arterial roads, public transport like buses and ample car parking. The Bedok MRT station is just an 8-minute walk away.
On a long-term aspect, several asset enhancement options can be considered including a full redevelopment of the site into a commercial scheme with an allowable GFA of about 4,500 sqm, subject to approval from all relevant authorities. Due to its proximity to high human traffic and accessibility to public transport, interested parties can look at major A&A or complete redevelopment of the site to accommodate retail activities, as a corporate HQ as well as an entertainment, education or medical hub.
“This is the only stand-alone commercial redevelopment play located in a heartland locale for sale now. Subject to approval, the property can be envisioned as a coworking hub in the heartlands or a medical or education hub encompassing retail elements. The property has immense potential which can be tapped by the creative and astute investor and derive long term stream of income and reap eventual gains,” Donald Goh, director of Investment Sales at Savills Singapore.
“With the commercial property market abuzz with activity, the Subject Property will interest end-users as well as property investors who are looking for value propositions to ride the uptrend in the sector”, Donald added.
The EOI closes on the 15th November 2018 (Thursday), 3pm