A freehold, corner, commercial construction at Joo Chiat Road and Koon Seng Road is up for sale at a guide price of $34 million, or $1,627 psf on gross floor area (GFA), based on JLL, that is promoting the property.
JK Centre is part two-storey, part five-storey construction on a 8,491 sq ft website. The building houses a grocery store on the ground floor, retail units on the next level and office components on levels three to five, with an overall estimated GFA of 20,895 sq ft.
Located inside the Joo Chiat Conservation Area, the land available is zoned for industrial use under URA’s Master Plan 2019.
“Given its highly enviable freehold tenure and prominent corner location with dual frontages, JK Centre presents investors with a rare chance to get a flagship construction with superior visibility and naming rights,” says Tan Hong Boon, executive manager of capital markets, JLL.
The tender for the house will close on April 15 at 3pm.