Three strata retail units in Orchard, Marine Parade, and Bukit Merah for sale at $8.3 mil
A trio of strata retail units throughout Orchard, Marine Parade and Bukit Merah is up for sale via expression of interest (EOI), states its exclusive marketing agent, CBRE. The overall account has a collective overview cost of $8.3 million, though the units can also be purchased individually.
The retail unit has a strata space of about 657 sq ft and has an overview cost 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 fully tenanted to a dental facility. CBRE states the unit up for sale is one of the few not possessed by Parkway Parade Partnership, that has about 77% of the strata retail lots at the development.
All three real estates are commercial units, that means they are not subjected to added buyer’s stamp duty or seller’s stamp duty. The EOI exercise is determined to close on April 30 at 3pm.
The second retail unit stands in Parkway Parade, a 22-storey industrial project that comprises an office tower and a seven-storey retail mall. The mall stands before the Marine Parade MRT Station on the Thomson-East Coast Line.
Clemence Lee, managing administrator of capital markets at CBRE Singapore, says the units will certainly appeal to both capitalists and end-users. “The units at Midpoint Orchard and Parkway Parade offer a strong tenant covenant with eye-catching revenue, while the one in Bukit Merah gives an ideal operational space for businesses looking for a tactical existence in that location,” he includes.
Found inside Bukit Merah Town Centre, the retail unit benefits from its distance to a range of services, including a food center, polyclinic, supermarket, HDB branch office and a selection of retail shops and services.
The very first retail unit, located in Midpoint Orchard around Orchard Road, has a guide rate of $4.8 million or $4,550 psf. According to CBRE, the freehold unit has a strata area of around 1,055 sq ft on level two of the shopping mall and is currently tenanted to a dental facility. Midpoint Orchard lies within proximity to Somerset MRT Station on the North-South Line and is positioned directly behind a bus stop.
The third property for sale is an HDB store unit at 163 Bukit Merah Central. Located on the 3rd level, it presents 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 offered with vacant ownership.
