Three strata retail units in Orchard, Marine Parade, and Bukit Merah for sale at $8.3 mil
The initial retail unit, located 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 area of about 1,055 sq ft on level two of the shopping center and is presently tenanted to an oral center. Midpoint Orchard lies within proximity to Somerset MRT Station on the North-South Line and is positioned directly behind a bus stop.
The third property for revenue is an HDB shop unit at 163 Bukit Merah Central. Located on the 3rd floor, it offers a strata area of 840 sq ft and is priced at a guide of $1.3 million, or $1,548 per sq ft. The unit will be offered with vacant possession.
Clemence Lee, executive administrator of capital markets at CBRE Singapore, says the units will appeal to both financiers and end-users. “The units at Midpoint Orchard and Parkway Parade offer a solid tenant covenant with attractive revenue, while the one in Bukit Merah gives an ideal operational space for businesses looking for a tactical existence because location,” he includes.
The second retail unit is located in Parkway Parade, a 22-storey business project that makes up a workplace tower and a seven-storey retail shopping center. The shopping center stands before the Marine Parade MRT Station on the Thomson-East Coast Line.
The retail unit has a strata location of about 657 sq ft and has a guide price of $2.2 million, or $3,349 psf. It is located on level five of the shopping mall, within an area dedicated to a health care centre. Presently, the unit is totally tenanted to a dental clinic. CBRE states the unit up for sale is one of the few not held by Parkway Parade Partnership, that manages about 77% of the strata retail lots at the development.
A trio of strata retail units across 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 guide price of $8.3 million, although the units can also be purchased separately.
All three properties are commercial units, that suggests they are not subjected to additional 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 take advantage of its proximity to a range of services, including a food center, polyclinic, supermarket, HDB branch workplace and a variety of retail shops and services.
