Retail shops at Peninsula Plaza, Sim Lim Square and Far East Plaza for sale at $26.5 mi
A selection of 14 retail stores at Peninsula Plaza, Sim Lim Square and Far East Plaza is offered for sale through an expression of interest (EOI) exercise. ERA Realty Network is promoting the real estates, which have a total rate of $26.46 million.
Two units stand at Peninsula Plaza, a 999-year leasehold mixed-use property development on North Bridge Road. The adjacent ground-floor outlet units have a combined strata space of around 990 sq ft and are seeking $8 million, or $8,081 psf.
Donald Goh, director of capital markets and investment sales at ERA, mentions the properties are going to bring in interest from both property investors and businessmen. He notes that strata retail deals in the Downtown Core and Orchard Planning Area remained resilient in 2024, with 28 and 33 transactions recorded in each area, 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 sold for $5,309 psf and $5,657 psf, respectively, a testimony that strata retail outlets are still a desirable investment.”
The last standing unit for sale is at Far East Plaza on Scotts Road. Situated on the second floor, this freehold retail unit uses a strata floor area of 355 sq ft and encounters the escalator near the mall’s main entrance. It is priced at $2.6 million, or $7,324 psf.
The EOI will close on April 17 at 3pm.
The shops can be purchased together or independently. Individual units are priced from $840,000, whilst the whole selection has an asking rate of $15.855 million, which ERA says is a 20% discount from its latest valuation. The price converts to $3,120 psf on the strata place.
Sim Lim Square is a strata-titled business property on Rochor Canal Road in District 7. Concluded in 1987, it has 492 commercial units spread across six levels and two basement levels.
At Sim Lim Square, 11 strata units with a total strata space of 5,081 sq ft are available for sale. Zoned for commercial use, the units are all on the fifth flooring and have a 99-year lease that commenced in April 1983, leaving roughly 57 years remaining. According to ERA, the majority of the units are presently tenanted. The shops face the mall’s main atrium and provide direct access from the escalators and lifts.
Far East Plaza is a freehold mixed-use development finished in 1982. It consists of a five-storey retail shopping mall and serviced apartments. The development is in just walking distance of Orchard Road MRT Terminal.
Peninsula Plaza is a 30-storey commercial property done in 1980. It features a six-story retail platform and a 24-storey workplace high rise. The development is connected to the City Hall MRT Interchange Terminal, that provides accessibility to both the North-South and East-West lines.
