-- CBRE, as the exclusive marketing agent, is offering for sale a portfolio of five ground floor commercial units at The Hillford, which is a mixed-use development near Beauty World.
Completed in 2017, The Hillford is a seven-storey mixed-use development comprising of 18 shops on the ground floor and 281 apartments from level 2. Situated along Jalan Jurong Kechil, the Property benefits from the ready catchment from the mature residential neighborhoods at Beauty World and Hillview.
The portfolio offering consists of 3 adjoining permanent F&B approved units ranging from 592 sq ft to 678 sq ft, a unit with permanent childcare centre approved use with a strata area of 2,713 sq ft, and a unit with permanent clinic approved use and currently approved for commercial school with a strata area of 538 sq ft.
The guide price for the for the entire portfolio is approximately S$12.3 million with individual units starting from S$1.2 million. The opportunity is offered for sale via an Expression of Interest (EOI) exercise that closes on Wednesday, 15 November 2023, at 12pm. Assets in the portfolio can be sold either individually or as a portfolio.
The portfolio has a combined frontage of approximately 50 metres and the F&B units come with a large outdoor refreshment area (ORA) for their exclusive use. The units are 100% occupied and currently tenanted to F&B operators such as a bar, a Korean restaurant, a café as well as a childcare centre. 
Mr Joshua Giam (严耀祥), Associate Director of Capital Markets, Singapore at CBRE, says, “The Property benefits from the ready catchment from the affluent residential neighbourhood at Beauty World and Hillview. The F&B units are crowded most nights and well patronized by residents staying in the area. In addition, there are a few residential developments such as Verdale (258 units), Forett at Bukit Timah (633 units), and Reserve Residences (732 units) that are slated for completion in the near term. When ready, residents in these developments will inject more activity and buzz in this area and incoming buyers can expect further rental upside benefitting from the ongoing rejuvenation.”
“Given the palatable quantum and other excellent attributes of the asset which include prominent frontage, scarcity of commercial assets in the area and permanent F&B and childcare centre usage, CBRE expects strong interest from investors that are looking for assets that offer attractive and defensive income streams and end users that are looking for their own space.”
Both foreigners and companies are eligible to purchase, and no additional buyer’s or seller’s stamp duty will be imposed.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2022 revenue). The company has approximately 115,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
