Six freehold shop units at Balestier Point launched for tender sale from $1,715 psf

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Six commercial units at Balestier Point, a freehold mixed-use development in District 12, are available for sale via tender with prices starting from $1,715 psf.

They are sized from about 592 sq ft to 4,898 sq ft each, and can be purchased individually, said exclusive marketing agent SRI in an Aug 12 news release.

While the release did not disclose the asking quantums, the starting psf price works out to roughly $1.02 million to $8.4 million, going by the unit size range.

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Most of the six units are located on the first storey, with some facing the main concourse and two with direct road frontage.

The 18-storey Balestier Point, located at 279 Balestier Road, comprises 51 commercial units and 68 residential units. It is about five minutes by bus from the Novena and Boon Keng MRT stations.

The site is zoned commercial and residential with a plot ratio of 3.0 under URA’s Master Plan 2025, which SRI said presents potential long-term redevelopment or en bloc opportunities.

"Balestier Point presents buyers with the flexibility to acquire individual units for investment or business use, while also offering the added upside of future redevelopment potential given its favourable zoning," noted Mok Sze Sze, managing partner of SRI Auction.

As the units are commercial properties, they are not subject to additional buyer’s stamp duty and foreigners are eligible to purchase them.

Mok added that freehold commercial properties in established city-fringe locations remain highly sought after due to their limited supply and long-term value.

Read also: Freehold Jalan Besar shophouse for sale at $8.5 mil

The tender exercise will close at 3.30pm on Sept 15 at SRI's Great World City office.

Check out the latest listings for Balestier Point properties