Photo of GB Building #01 and #02 (Source: Huttons Asia)
Two strata commercial units at GB Building along Cecil Street will be put up for auction on 16 Aug at an indicative guide price of $46 million.
The strata commercial units are on a 99-year lease since October 1982. With its rare duplex configuration on Levels 1 and 2, the units span a substantial 1,214 sq m (13,067 sq ft) and features a ground floor glass façade frontage of 32.6m that stretches across 46 percent of the building frontage facing Cecil
Connectivity is exceptional as six MRT stations – Downtown, Maxwell, Raffles Place, Shenton Way, Tanjong Pagar and Telok Ayer are within walking distance. Its strategic position, surrounded by various lifestyle amenities, enhances its appeal to potential investors and business proprietors.
James Wong, Head of Sales and Auction at Huttons Asia Pte Ltd said: “This highly coveted asset in Singapore’s CBD represents an unique opportunity for business owners, family offices, and investors interested in owning a versatile commercial space with large floor plates, which are usually tightly held and highly sought after.”
“The unique property, currently leased to a reputable Nightlife Entertainment Operator until the first quarter of 2027, assures potential investors of a stable source of rental income. Its high-visibility glass wide frontage guarantees optimal exposure, enhancing its appeal to prospective tenants. There is also potential for value enhancement under the CBD Incentive Scheme should GB Building be sold via a collective sale,” concludes Lee Sze Teck, Senior Director of Data Analytics, Huttons Asia.
The property will be put up for auction on 16 Aug 2023, 230pm.
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