Joo Chiat's JK Centre up for sale at indicative price of S$34m

In addition, JK Centre is near co-living and co-working spaces - namely Hmlet and Spaces - the latter starting operations this year.

JLL executive director of capital markets Tan Hong Boon said the property sale provides investors with a rare opportunity to own a flagship building with excellent visibility and naming rights. There is no additional buyer's stamp duty payable on the property and there are no foreign ownership restrictions as well.

There is also potential for investors to capitalise on more intensive leasing activities and/or higher-value uses to enjoy a higher rental and capital upside, Mr Tan added. "Investors may consider holding the property long term to enjoy stable rental income, followed by subsequent strata subdivision and sale to end-users and investors as a potential exit strategy," he said.

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Source: The Straits Times - 🏆 8. / 63 Read more »