National Aerated Water Bldg Selling

National Aerated Water Bldg Selling For S$18.9mil

SINGAPORE – The 2-storey National Aerated Water Building, which offers office space in the city’s outskirts, will be launched for sale with a guide price S$18.9 million by developer Selangor Dredging Bhd (SDB), reported The Edge on Friday morning (1 April, SGT).

The selling price translates to S$2,883 psf, based on the commercial property’s overall strata area of 6,555 sq ft.

Previously, the heritage property was launched for sale via an expression of interest (EOI) exercise in August 2021, with CBRE appointed as the marketing agent.

“While there were a handful of offers, they did not meet the owner’s expectation and the decision was made to withdraw the property to be relaunched later,” said Clemence Lee, CBRE’s Senior Director of capital markets who is handling the latest sale.

The National Aerated Water Building will be relaunched for sale later this month with the same guide price. Lee revealed that the commercial property will be sold as a whole, although it has 3 separate strata titles, one for each level, including the roof terrace, which is designated as a communal space.

Its 1st floor contains 2 units. The front unit has a bigger area of 2,454 sq ft and has been approved for restaurant use, while the rear shop unit measures 689 sq ft. The rooftop communal area can be utilised by the F&B operator as a bar, subject to approval of the relevant authorities and the management corporation strata title (MCST) of Jui Residences, of which the National Aerated Water Building is part of.

The column-free level 2 is designated for use as an office space. It has a ceiling height of 3.5 metres and an open floor plate of 3,412 sq ft.

Companies and businesses looking for office space in the outskirts of the city will find the location attractive as the commercial development is just 650 metres from the Potong Pasir MRT Station, while the Boon Keng MRT Station is 850 metres away.

“The location, freehold tenure, F&B approval on the ground floor and proximity to 2 MRT stations will ensure that the successful buyer of the 2-storey building enjoys strong capital appreciation in the mid- to long-term,” said Lee.

“With limited future supply of strata commercial units, the new owner can buy the whole building and sell the individual strata units at a later stage,” he said, adding that the National Aerated Water Building is one of Singapore’s most iconic landmarks along the Kallang River.

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