Three strata retail units in Orchard, Marine Parade, and Bukit Merah for sale at $8.3 mil
All three real estates are commercial units, that means they are not subjected to added buyer’s stamp duty or seller’s stamp duty. The EOI exercise is set to seal on April 30 at 3pm.
Found inside Bukit Merah Town Centre, the retail unit benefits from its closeness to a variety of features, including a food centre, polyclinic, supermarket, HDB branch workplace and a variety of retail shops and services.
The retail unit has a strata location of about 657 sq ft and has a guide cost of $2.2 million, or $3,349 psf. It lies on level five of the shopping mall, inside an area dedicated to a clinical centre. Currently, the unit is completely tenanted to an oral center. CBRE states the unit up for sale is among the few not kept by Parkway Parade Partnership, which owns around 77% of the strata retail lots at the development.
The 3rd property for revenue is an HDB shop unit at 163 Bukit Merah Central. Positioned on the 3rd level, it presents a strata area of 840 sq ft and is valued at a guide of $1.3 million, or $1,548 per sq ft. The unit will be marketed with vacant ownership.
Clemence Lee, executive director of capital markets at CBRE Singapore, claims the units will attract both investors and end-users. “The units at Midpoint Orchard and Parkway Parade offer a strong tenant covenant with attractive earnings, whilst the one in Bukit Merah offers an ideal operational space for businesses seeking a critical existence because area,” he includes.
A trio of strata retail units across Orchard, Marine Parade and Bukit Merah is up for sale via expression of interest (EOI), says its special marketing agent, CBRE. The entire portfolio has a cumulative guide rate of $8.3 million, though the units can also be bought individually.
The initial retail unit, positioned in Midpoint Orchard around Orchard Road, has a guide rate of $4.8 million or $4,550 psf. According to CBRE, the property unit has a strata area of around 1,055 sq ft on level 2 of the shopping mall and is presently tenanted to an oral clinic. Midpoint Orchard lies within distance to Somerset MRT Station on the North-South Line and is situated straight behind a bus stop.
The 2nd retail unit is located in Parkway Parade, a 22-storey business project that comprises a workplace tower and a seven-storey retail shopping mall. The mall lies before the Marine Parade MRT Station on the Thomson-East Coast Line.
