Thursday, June 28, 2012

Six levels of AA Centre to go up for sale

The first six levels of AA Centre (pictured) located at 336 River Valley Road have been put up for sale in an Expression of Interest (EOI). According to marketing agent Colliers International, interested buyers have until 7 August to submit their offers.

The 14-storey building was completed in 1984 by the Automobile Association of Singapore (AA Singapore). It sits on a 33,751 sq ft freehold site and has a total gross floor area (GFA) of 127,712 sq ft.

Jointly, the six levels comprise a total strata area of 55,574 sq ft with the first four levels owned and used by the association.

Level One includes a reception area, cafeteria and multi-purpose hall, while the second to fourth floors have office and clubhouse space as well as a jackpot room and swimming pool. As for the fifth and sixth levels, they comprise of 32 vacant serviced apartments.

The remaining residential units on levels seven to 14 belong to individual owners.

“Given the subject property’s freehold tenure, superior location and unique mixed usage, we expect it to be a highly desirable property, appealing to different type of users – including serviced apartment operators/investors, community and recreational space users, corporate office users and specialised user groups such as those in education or medical tourism, among others,” said Tang Wei Leng, Executive Director of Investment Services at Colliers International.

The site is zoned for residential use under the 2008 Master Plan. It has an allowable plot ratio of 2.8 and a maximum permissible height of 10-storeys.

View the original article here

Source From Property Guru

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