Nursing home on Sims Avenue for sale at $27 mil

A rare freehold property in Singapore is going up for sale on March 16, with a guide price of $27 million. Located at Sims Avenue, the four-storey detached building has a total floor area of approximately 11,859 sq ft and is zoned for health and medical care use under the 2019 URA Master Plan.

The property is being operated by the owners as Charis Manor Nursing Home, a private facility that offers long-term stay, respite care and daycare services for the elderly, as well as CSM Academy International, a healthcare services and caregiver training institution.

Communal spaces on the first floor includes a kitchen and dining area, an activity room, a library, a staff canteen and an office area. Wards, private rooms and a rehabilitation centre can be found on the upper floors, accessible via the building’s lift, while the basement is home to training rooms.

The outdoor garden area (Picture: Knight Frank)

It also has outdoor garden areas and ample private parking lots. According to Lock Sau Lai, senior manager, auction & sales at Knight Frank, who is handling the auction and is the sole marketing agency for the property, the owners are hoping for a sale and leaseback agreement. This would involve the buyer of the property leasing it back to Tengah EC the owners for three years, with a possible extension of another two years.

The neighbourhood chiefly consists of shophouses and light industrial buildings located along Sims Avenue and Geylang Road. With its zoning for health and medical care use, Lock believes the property will likely generate interest from buyers within related industry, such as medical companies, hospice or assisted living care providers, or other nursing home operators.

To find out more about the property, you can check out the latest listings near Sims Avenue.