Three strata retail units in Orchard, Marine Parade, and Bukit Merah for sale at $8.3 mil
Located within Bukit Merah Town Centre, the retail unit gain from its distance to a variety of features, including a food center, polyclinic, supermarket, HDB branch workplace and a variety of retail shops and services.
Clemence Lee, executive director of capital markets at CBRE Singapore, states the units will certainly appeal to both capitalists and end-users. “The units at Midpoint Orchard and Parkway Parade offer a strong tenant covenant with eye-catching earnings, while the one in Bukit Merah gives an ideal operational space for businesses seeking a tactical visibility because location,” he includes.
The first retail unit, positioned 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 around 1,055 sq ft on level 2 of the mall and is currently tenanted to a dental clinic. Midpoint Orchard stands within distance to Somerset MRT Station on the North-South Line and is positioned straight behind a bus stop.
The third real estate for sale is an HDB outlet unit at 163 Bukit Merah Central. Positioned on the third ground, it presents a strata area of 840 sq ft and is marked up at an overview of $1.3 million, or $1,548 per sq ft. The unit will be offered with vacant ownership.
The retail unit has a strata location 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, inside an area dedicated to a medical centre. Presently, the unit is completely tenanted to a dental center. CBRE claims the unit up for sale is one of minority not possessed by Parkway Parade Partnership, that has about 77% of the strata retail lots at the property development.
A trio of strata retail units across Orchard, Marine Parade and Bukit Merah is up for sale via expression of interest (EOI), states its exclusive marketing representative, CBRE. The entire account has a cumulative overview rate of $8.3 million, although the units can also be bought individually.
All three estates are commercial units, that means they are not subjected to extra buyer’s stamp duty or seller’s stamp duty. The EOI exercise is determined to close on April 30 at 3pm.
The 2nd retail unit lies in Parkway Parade, a 22-storey commercial project that makes up a workplace tower and a seven-storey retail mall. The shopping mall stands before the Marine Parade MRT Station on the Thomson-East Coast Line.
