Retail shops at Peninsula Plaza, Sim Lim Square and Far East Plaza for sale at $26.5 mi
The stores can be purchased together or independently. Individual units are valued from $840,000, while the entire selection has an asking price of $15.855 million, which ERA says is a 20% discount from its newest valuation. The cost converts to $3,120 psf on the strata place.
A collection of 14 retail stores at Peninsula Plaza, Sim Lim Square and Far East Plaza is offered for sale through an expression of interest (EOI) exercise. ERA Realty Network is promoting the real estates, that have an overall rate of $26.46 million.
Far East Plaza is a freehold mixed-use development finished in 1982. It makes up a five-storey retail shopping center and serviced apartments. The property development is inside walking distance of Orchard Road MRT Terminal.
Peninsula Plaza is a 30-storey commercial property completed in 1980. It includes a six-story retail platform and a 24-storey workplace high rise. The development is connected to the City Hall MRT Interchange Terminal, which provides access to both the North-South and East-West lines.
Donald Goh, director of resources markets and financial investment sales at ERA, mentions the properties are going to attract interest from both property buyers and business owners. He notes that strata retail deals in the Downtown Core and Orchard Planning Area remained resilient in 2024, with 28 and 33 transactions reported in each location, respectively. Goh adds: “A ground floor unit at Lucky Plaza was cost $15,242 psf whilst units at Orchard Towers and The 101 were retailed for $5,309 psf and $5,657 psf, respectively, a testament that strata retail stores are still an appealing financial investment.”
Two units lie at Peninsula Plaza, a 999-year leasehold mixed-use development on North Bridge Road. The adjacent ground-floor store units have a combined strata space of around 990 sq ft and are seeking $8 million, or $8,081 psf.
The EOI is going to close on April 17 at 3pm.
The last remaining unit for sale is at Far East Plaza on Scotts Road. Situated on the second floor, this freehold retail unit offers a strata floor location of 355 sq ft and deals with the escalator near the mall’s main entry. It is marked up at $2.6 million, or $7,324 psf.
At Sim Lim Square, 11 strata units with a total strata area of 5,081 sq ft are available for sale. Zoned for commercial use, the units are all on the fifth floor and have a 99-year lease that began in April 1983, leaving approximately 57 years remaining. According to ERA, most of the units are presently tenanted. The shops face the mall’s main atrium and provide straight connectivity from the escalators and lifts.
Sim Lim Square is a strata-titled business property on Rochor Canal Road in District 7. Completed in 1987, it has 492 commercial units spread throughout six levels and 2 basement levels.
