Commercial unit at Balestier Point on sale for $10 mil

A freehold retail unit on the second floor of Balestier Point has been put up for sale by the owner – via auction for $10 million ($2,042 psf). Offering a floor area of 4,898 sq ft, the property will be auctioned by SRI on Nov 23. Located in District 12, Balestier Point is an 18-storey mixed use property that has never been put up for auction before.

Having purchased the unit for $4.9 million ($1,000 psf) in April 2013, the owner has since occupied it. According to EdgeProp Singapore’s LandLens tool, Balestier Point is near the Novena MRT Station, Farrer Park MRT Station, and Boon Keng MRT Station, with popular F&B offerings at Whampoa Makan Place on Whampoa Drive, Balestier Market Food Court on Balestier Road, and Pek Kio Market and Food Centre on Cambridge Road.

Caveats lodged in the last 12 months suggest that the property enjoys an impressive rental yield of 3.6% – offered between rents of $2.20 and $4.90 psf per month. This is much higher than the yield of nearby commercial units like Balestier Plaza at 3.2% or Square 2’s 1.9%.

Senja Close EC enjoys a wide array of amenities, such as shopping malls, supermarkets, banks, clinics, and recreational venues. Besides, the site is connected to Bukit Panjang Integrated Transport Hub, making travelling effortless and convenient. The modern and contemporary living concept of this new estate offers a rare opportunity for residents to relax and unwind by the end of a tiring day.

The footfall at Balestier Point is likely attributed to its surrounding residential neighbourhood and local cafes and restaurants.

For context, the last sale of a retail unit at Balestier Point took place last November when a 183 sq ft unit changed hands for $408,000 ($2,230 psf). This was followed by a 5,608 sq ft unit that went for $10.08 million, or $1,926 psf in September.

It’s possible to buy other commercial properties too – five amalgamated strata-titled office units are on sale at $7.8 million, while an one-bedder loft at a freehold Fulcrum condo is up for auction for $1.69 million and a freehold semi-detached at Upper Thomson is available for sale at $7.2 million.

The unit currently offered at Balestier Point is situated in an ideal location, offering both convenience and generous yields. This makes it a highly attractive investment for those on the lookout for commercial properties.