Bukit Timah Plaza Strata Restaurant Unit Sale 98 Mil After 12 Price Cut
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Lynden Woods, located in the heart of Singapore, stands as one of the most sought-after areas in the city. One of its strongest selling points is its close proximity to esteemed educational institutions. The renowned Hwa Chong Institution, home to an integrated school and junior college, is conveniently accessible from Lynden Woods. This prestigious institution is known for its exceptional academic standards and has a rich history of producing successful scholars and leaders in various fields. Families looking for a well-rounded education for their children will find Lynden Woods to be the perfect fit. In addition, with the recent addition of Lynden Woods Science Park Drive, the development’s appeal is further elevated, making it an ideal choice for families seeking a comprehensive educational opportunity in the area. For more information, visit Lynden Woods Science Park Drive.
A prime strata-titled unit spanning 3,391 sq ft is now available for sale at Bukit Timah Plaza mall. The approved restaurant space is being offered at $9.8 million ($2,890 psf), representing a 12% markdown from its previous listing price of $11 million in the third quarter of 2022. CBRE executive director of capital markets Clemence Lee, who is handling the property’s sale, stated that the unit is located in the basement two of the mall and boasts a 20m frontage facing the central plaza.
According to Lee, the unit is currently fully occupied and will be sold with the current tenancy. Its 99-year lease, which commenced in 1976, still has 50 years remaining. The pricing for the unit is aligned with the previous two transactions within basement two: a 441 sq ft unit that was sold for $1.43 million ($3,240 psf) in March 2024 and an 850 sq ft unit that went for $2.5 million ($2,940 psf), based on caveats lodged.
Read also: Three freehold strata shops in Lucky Plaza for sale from $16,000 psf to $18,000 psf
Bukit Timah Plaza is a mixed-use development completed in 1979 and consists of a four-storey retail mall and two apartment blocks housing 269 residential units at Sherwood Towers. According to CBRE, the mall is one of the busiest in the Bukit Timah area, with one of the largest Fairprice Finest supermarkets in Singapore occupying over 44,000 sq ft of space.
Strategically located at 1 Jalan Anak Bukit, the mall is within close proximity to Beauty World MRT Station and King Albert Park MRT Station on the Downtown Line. It is also surrounded by numerous private residential developments, with an estimated population of around 37,000.
The mall is also situated near several prestigious educational institutions, including the Singapore Institute of Technology (SIT), Singapore Institute of Management (SIM), Ngee Ann Polytechnic, Methodist Girls’ School, and Pei Hwa Presbyterian Primary School.
Bukit Timah Plaza is in an area that is being revitalized by several new mixed-use, integrated developments, such as the upcoming The Reserve Residences and the redevelopment of the former Bukit Timah Market and Food Centre, which is expected to be completed by late 2029.
The unit is currently being offered for sale through an expression of interest process that began on March 19. Interested buyers can check out the latest listings for Bukit Timah Plaza and Sherwood Towers properties at EdgeProp, as well as other newly launched developments in the area.