Three strata retail units in Orchard, Marine Parade, and Bukit Merah for sale at $8.3 mil
Clemence Lee, managing administrator of capital markets at CBRE Singapore, says the units will certainly attract both capitalists and end-users. “The units at Midpoint Orchard and Parkway Parade offer a solid tenant covenant with appealing revenue, while the one in Bukit Merah gives an ideal operational space for businesses looking for a critical visibility because location,” he includes.
All three properties are commercial units, that implies they are not subjected to added buyer’s stamp duty or seller’s stamp duty. The EOI exercise is determined to seal on April 30 at 3pm.
The second retail unit is located in Parkway Parade, a 22-storey business development that consists of a workplace tower and a seven-storey retail mall. The shopping mall is located before the Marine Parade MRT Station on the Thomson-East Coast Line.
Found within Bukit Merah Town Centre, the retail unit benefits from its proximity to a series of amenities, including a food centre, polyclinic, supermarket, HDB branch office and a range of retail shops and services.
A trio of strata retail units all over Orchard, Marine Parade and Bukit Merah is up for purchase via expression of interest (EOI), says its special marketing agent, CBRE. The entire portfolio has a cumulative overview cost of $8.3 million, though the units can also be bought separately.
The 3rd property for sale is an HDB outlet unit at 163 Bukit Merah Central. Situated on the third 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 sold with vacant ownership.
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 mall, within an area dedicated to a clinical centre. Presently, the unit is totally tenanted to an oral facility. CBRE claims the unit up for sale is among minority not held by Parkway Parade Partnership, which manages about 77% of the strata retail lots at the development.
The first retail unit, situated in Midpoint Orchard along Orchard Road, has a guide cost of $4.8 million or $4,550 psf. According to CBRE, the freehold unit has a strata location of around 1,055 sq ft on level 2 of the shopping mall and is presently tenanted to a dental facility. Midpoint Orchard lies inside proximity to Somerset MRT Station on the North-South Line and is positioned straight behind a bus stop.
