Three strata retail units in Orchard, Marine Parade, and Bukit Merah for sale at $8.3 mil
All three properties are commercial units, which implies they are not subjected to additional buyer’s stamp duty or seller’s stamp duty. The EOI exercise is set to close on April 30 at 3pm.
The initial retail unit, located 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 about 1,055 sq ft on level 2 of the mall and is currently tenanted to a dental clinic. Midpoint Orchard stands inside distance to Somerset MRT Station on the North-South Line and is positioned directly behind a bus stop.
The 3rd real estate for sale is an HDB store unit at 163 Bukit Merah Central. Situated on the third ground, it presents a strata area of 840 sq ft and is priced at an overview of $1.3 million, or $1,548 per sq ft. The unit will be offered with vacant possession.
Clemence Lee, managing director of capital markets at CBRE Singapore, states the units will attract both financiers and end-users. “The units at Midpoint Orchard and Parkway Parade provide a solid tenant covenant with eye-catching revenue, whilst the one in Bukit Merah offers an ideal operational space for businesses looking for a tactical visibility in that location,” he adds.
The 2nd retail unit lies in Parkway Parade, a 22-storey business development that makes up an office tower and a seven-storey retail shopping mall. The shopping center lies before the Marine Parade MRT Station on the Thomson-East Coast Line.
A trio of strata retail units throughout Orchard, Marine Parade and Bukit Merah is up for purchase via expression of interest (EOI), says its exclusive marketing representative, CBRE. The overall portfolio has a collective guide price of $8.3 million, although the units can also be purchased independently.
Located inside Bukit Merah Town Centre, the retail unit take advantage of its distance to a series of services, including a food center, polyclinic, supermarket, HDB branch office and a selection of retail shops and services.
The retail unit has a strata space 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, throughout an area dedicated to a clinical centre. Currently, the unit is completely tenanted to a dental facility. CBRE claims the unit up for sale is among the few not held by Parkway Parade Partnership, that has about 77% of the strata retail lots at the property development.
