JLL is pleased to be appointed as the exclusive marketing agent for the Vendor and to present a coveted opportunity for interested parties to acquire jointly:
1. A strata-titled, multi-storey car park within a mixed-use development, Textile Centre
2. And a plot of commercial land adjacent to Textile Centre – currently utilized as a driveway servicing the car park
Strategically located within a bustling and vibrant commercial lifestyle precinct in Singapore’s District 7, the car park at Textile Centre is in an area undergoing much transformative rejuvenation. The asset is near a whole slew of new landmark developments such as Guoco Midtown, Duo Tower and South Beach in addition to the upcoming Shaw Towers and the Golden Mile Complex redevelopment. Popular commercial heritage area of Kampong Glam is also in the locality, sited just across the road from the car park.
The car park spans 200,456 square feet, across the third to seventh storeys of Textile Centre, and comprises a total of 685 car lots and 40 motorcycle lots.
Excellent accessibility via arterial roads and major expressways, the car park is easy to commute to-and-fro other parts of Singapore. MRT stations, Lavender and Nicoll Highway are about 5 to 6 minutes’ walk away respectively giving commuters the option to conveniently park and ride to their destinations.
The asset is highly regarded as a golden opportunity as strata subdivision of communal car parks within a development are no longer allowed by the authorities. Such prized assets are tightly-held by investors and rarely come up in the market for acquisition. There is also upside potential for the incoming owner to decant a portion of the car park space to convert surplus lots into other higher and better uses.
Interested parties are invited to submit their offers on a private treaty basis.
+ Strategic location within vibrant precinct
+ "Cash Cow" Asset
+ Excellent accessibility, easy for park and ride
+ Limited supply and tightly held
+ Potential to unlock further value through conversion of use
+ Foreigners eligible to purchase
+ No ABSD or SSD payable