Retail shops at Peninsula Plaza, Sim Lim Square and Far East Plaza for sale at $26.5 mi
Sim Lim Square is a strata-titled commercial project on Rochor Canal Road in District 7. Concluded in 1987, it has 492 commercial units spread throughout six floors and two basement levels.
The last remaining unit for sale is at Far East Plaza on Scotts Road. Positioned on the 2nd floor, this freehold retail unit provides a strata floor area of 355 sq ft and deals with the escalator near the mall’s major entry. It is valued at $2.6 million, or $7,324 psf.
The outlets can be purchased together or individually. Individual units are valued from $840,000, while the whole portfolio has an asking cost of $15.855 million, that ERA says is a 20% discount from its newest valuation. The cost translates to $3,120 psf on the strata area.
The EOI is going to close up on April 17 at 3pm.
Donald Goh, executive of resources markets and investment sales at ERA, mentions the properties will attract interest from both property clients and entrepreneur. He indicates that strata retail sales in the Downtown Core and Orchard Planning Area remained resilient in 2024, with 28 and 33 transactions reported in each place, respectively. Goh adds: “A ground floor unit at Lucky Plaza was sold for $15,242 psf whilst units at Orchard Towers and The 101 were sold for $5,309 psf and $5,657 psf, respectively, a testimony that strata retail outlets are still an attractive investment.”
At Sim Lim Square, 11 strata units with an overall strata area of 5,081 sq ft are offered for sale. Zoned for commercial use, the units are all on the 5th flooring and have a 99-year lease that began in April 1983, leaving roughly 57 years remaining. According to ERA, most of the units are presently tenanted. The shops face the mall’s main atrium and give direct connectivity from the escalators and lifts.
A collection of 14 retail stores at Peninsula Plaza, Sim Lim Square and Far East Plaza is offered for sale via an expression of interest (EOI) exercise. ERA Realty Network is presenting the real estates, that have an overall price of $26.46 million.
Two units stand at Peninsula Plaza, a 999-year leasehold mixed-use property development on North Bridge Roadway. The adjacent ground-floor store units have a combined strata area of around 990 sq ft and are seeking $8 million, or $8,081 psf.
Far East Plaza is a freehold mixed-use development completed in 1982. It makes up a five-storey retail shopping center and serviced apartments. The property development is in just walking distance of Orchard Road MRT Station.
Peninsula Plaza is a 30-storey business building completed in 1980. It includes a six-story retail podium and a 24-storey business office high rise. The growth is attached to the City Hall MRT Interchange Station, which provides access to both the North-South and East-West lines.
