Retail shops at Peninsula Plaza, Sim Lim Square and Far East Plaza for sale at $26.5 mi
The last standing unit for sale is at Far East Plaza on Scotts Road. Located on the 2nd level, this freehold retail unit provides a strata level area of 355 sq ft and deals with the escalator near the shopping center’s major entryway. It is priced at $2.6 million, or $7,324 psf.
Peninsula Plaza is a 30-storey commercial property finished in 1980. It includes a six-story retail podium and a 24-storey workplace high rise. The development is linked to the City Hall MRT Interchange Station, which provides access to both the North-South and East-West lines.
Two units rise at Peninsula Plaza, a 999-year leasehold mixed-use project on North Bridge Road. The adjacent ground-floor shop units have a combined strata space of around 990 sq ft and are asking for $8 million, or $8,081 psf.
Donald Goh, director of capital markets and investment sales at ERA, mentions the properties are going to draw in attention from both property clients and business owners. He indicates that strata retail revenues in the Downtown Core and Orchard Planning Area remained resilient in 2024, with 28 and 33 contracts documented in each location, 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 marketed for $5,309 psf and $5,657 psf, respectively, a testament that strata retail outlets are still an appealing financial investment.”
Far East Plaza is a freehold mixed-use development completed in 1982. It makes up a five-storey retail shopping mall and serviced apartments. The development is within walking range of Orchard Road MRT Stop.
At Sim Lim Square, 11 strata units with a total strata area of 5,081 sq ft are offered for sale. Zoned for commercial use, the units are all on the 5th floor and have a 99-year lease that started 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 provide direct accessibility from the escalators and lifts.
The stores can be acquired together or independently. Individual units are priced from $840,000, while the whole selection has an asking rate of $15.855 million, that ERA says is a 20% discount from its newest valuation. The rate translates to $3,120 psf on the strata place.
Sim Lim Square is a strata-titled business development on Rochor Canal Road in District 7. Finished in 1987, it has 492 commercial units spread across six levels and 2 basement levels.
A list of 14 retail stores at Peninsula Plaza, Sim Lim Square and Far East Plaza is readily available 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.
The EOI is going to close on April 17 at 3pm.
