.jpg?_x_cU1hD38culdVObWnS_LZqkULIvukI&itok=wwWQk8uc "The four-storey building has a built-up area of about 10,134 sq ft (Picture: CBRE)")
A four-storey mixed-use freehold development at 19 Jalan Masjid, off Sims Avenue East, is up for sale through an expression of interest (EOI) exercise with a guide price of $17 million, or $1,678 psf on the existing floor area.
The building has a total built-up area of about 10,134 sq ft. It occupies a 3,383 sq ft, freehold site zoned for residential use with commercial at the first storey. The site has a gross plot ratio of 3.0.
The property currently has 23 rooms that are being rented out to co-living operator The Assembly Place. The ground-floor unit is leased to a commercial school. The building also comes with a passenger lift and three car park lots. It is a two-minute walk from Kembangan MRT Station on the East-West Line.
A map showing the location of 19 Jalan Masjid (Picture: EdgeProp LandLens)
Amenities near 19 Jalan Masjid include retail shops and service amenities at Kembangan Plaza, and eateries along nearby Changi Road. In the future, a new integrated development by HDB located next to Kembangan MRT Station will introduce 340 new homes and a five-storey building that will house a new community club, supermarket, retail shops, and an outpatient healthcare facility.
According to marketing agent CBRE, the vendor has obtained in-principle approval to convert the upper floor premises for Service Apartment II (SA2) use, subject to the fulfilment of conditions set out by the authorities.
Clemence Lee, executive director for capital markets at CBRE Singapore, adds: “The introduction of the SA2 scheme allows investors to diversify their portfolios by incorporating living asset classes, which can provide long-term income stability and capital appreciation.”
The EOI will close on July 2 at 3pm.
