Three strata retail units in Orchard, Marine Parade, and Bukit Merah for sale at $8.3 mil
Located inside Bukit Merah Town Centre, the retail unit gain from its distance to a range of services, including a food centre, polyclinic, supermarket, HDB branch workplace and a variety of retail shops and services.
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 stands on level five of the mall, throughout an area dedicated to a health care centre. Currently, the unit is totally tenanted to an oral facility. CBRE says the unit up for sale is one of minority not held by Parkway Parade Partnership, which owns around 77% of the strata retail lots at the property development.
The 3rd real estate for revenue is an HDB shop unit at 163 Bukit Merah Central. Located on the 3rd floor, it provides a strata area of 840 sq ft and is valued at an overview of $1.3 million, or $1,548 per sq ft. The unit will be sold with vacant possession.
The 2nd retail unit stands in Parkway Parade, a 22-storey business project that comprises an office tower and a seven-storey retail shopping mall. The mall lies before the Marine Parade MRT Station on the Thomson-East Coast Line.
The first retail unit, situated in Midpoint Orchard along Orchard Road, has a guide rate 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 facility. Midpoint Orchard lies within proximity to Somerset MRT Station on the North-South Line and is positioned straight behind a bus stop.
All three real estates are commercial units, that implies they are not subjected to additional buyer’s stamp duty or seller’s stamp duty. The EOI exercise is determined to seal on April 30 at 3pm.
Clemence Lee, executive administrator of capital markets at CBRE Singapore, says the units will certainly attract both capitalists and end-users. “The units at Midpoint Orchard and Parkway Parade offer a strong tenant covenant with attractive revenue, whilst the one in Bukit Merah provides an ideal operational space for businesses looking for a tactical presence because location,” he includes.
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 agent, CBRE. The overall portfolio has a cumulative overview price of $8.3 million, although the units can also be bought separately.
