Three strata retail units in Orchard, Marine Parade, and Bukit Merah for sale at $8.3 mil
A trio of strata retail units throughout Orchard, Marine Parade and Bukit Merah is up for sale via expression of interest (EOI), claims its special marketing representative, CBRE. The entire portfolio has a collective overview rate of $8.3 million, although the units can also be purchased independently.
All three properties are commercial units, which indicates they are not subjected to extra buyer’s stamp duty or seller’s stamp duty. The EOI exercise is set up to close on April 30 at 3pm.
The first retail unit, situated in Midpoint Orchard along Orchard Road, has a guide rate of $4.8 million or $4,550 psf. According to CBRE, the property unit has a strata location of about 1,055 sq ft on level two of the shopping mall and is presently tenanted to a dental facility. Midpoint Orchard stands inside proximity to Somerset MRT Station on the North-South Line and is situated directly behind a bus stop.
The 2nd retail unit is located in Parkway Parade, a 22-storey commercial project that makes up an office tower and a seven-storey retail mall. The shopping mall is located in front of the Marine Parade MRT Station on the Thomson-East Coast Line.
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Clemence Lee, executive director of capital markets at CBRE Singapore, claims the units will certainly attract both investors and end-users. “The units at Midpoint Orchard and Parkway Parade offer a strong tenant covenant with attractive income, whilst the one in Bukit Merah provides an ideal operational space for businesses looking for a tactical visibility because area,” he adds.
Located inside Bukit Merah Town Centre, the retail unit take advantage of its closeness to a series of amenities, including a food center, polyclinic, supermarket, HDB branch office and a variety of retail shops and services.
The third real estate for sale is an HDB store unit at 163 Bukit Merah Central. Situated on the third level, it offers a strata area of 840 sq ft and is marked up at a guide of $1.3 million, or $1,548 per sq ft. The unit will be marketed with vacant ownership.
The retail unit has a strata area of about 657 sq ft and has a guide rate of $2.2 million, or $3,349 psf. It is located on level five of the shopping mall, throughout an area dedicated to a medical centre. Presently, the unit is completely tenanted to a dental facility. CBRE claims the unit up for sale is just one of minority not possessed by Parkway Parade Partnership, which has around 77% of the strata retail lots at the property development.
