Three strata retail units in Orchard, Marine Parade, and Bukit Merah for sale at $8.3 mil
All three properties are commercial units, which indicates they are not subjected to added buyer’s stamp duty or seller’s stamp duty. The EOI exercise is set to seal on April 30 at 3pm.
The 2nd retail unit lies in Parkway Parade, a 22-storey industrial project that consists of a workplace tower and a seven-storey retail mall. The mall stands facing the Marine Parade MRT Station on the Thomson-East Coast Line.
A trio of strata retail units across Orchard, Marine Parade and Bukit Merah is up for sale via expression of interest (EOI), states its special marketing representative, CBRE. The entire portfolio has a cumulative overview cost of $8.3 million, although the units can also be purchased independently.
The initial retail unit, located in Midpoint Orchard along Orchard Road, has a guide price of $4.8 million or $4,550 psf. According to CBRE, the property unit has a strata location of around 1,055 sq ft on level 2 of the shopping center and is presently tenanted to an oral clinic. Midpoint Orchard stands within proximity to Somerset MRT Station on the North-South Line and is situated straight behind a bus stop.
The third property for revenue is an HDB outlet unit at 163 Bukit Merah Central. Positioned on the third level, it provides a strata area of 840 sq ft and is valued at a guide of $1.3 million, or $1,548 per sq ft. The unit will be marketed with vacant possession.
Clemence Lee, managing director of capital markets at CBRE Singapore, claims the units will appeal to both capitalists and end-users. “The units at Midpoint Orchard and Parkway Parade offer a strong tenant covenant with eye-catching earnings, whilst the one in Bukit Merah gives an ideal operational space for businesses seeking a calculated visibility because location,” he adds.
The retail unit has a strata location of about 657 sq ft and has an overview rate of $2.2 million, or $3,349 psf. It is located on level five of the shopping center, within an area dedicated to a health care centre. Presently, the unit is fully tenanted to an oral clinic. CBRE claims the unit up for sale is among the few not held by Parkway Parade Partnership, that manages about 77% of the strata retail lots at the development.
Situated inside Bukit Merah Town Centre, the retail unit gain from its proximity to a series of amenities, including a food centre, polyclinic, supermarket, HDB branch office and a selection of retail shops and services.
