Retail shops at Peninsula Plaza, Sim Lim Square and Far East Plaza for sale at $26.5 mi
Peninsula Plaza is a 30-storey business development finished in 1980. It includes a six-story retail platform and a 24-storey office high rise. The development is connected to the City Hall MRT Interchange Station, that offers access to both the North-South and East-West lines.
The last standing unit available is at Far East Plaza on Scotts Road. Positioned on the 2nd level, this freehold retail unit offers a strata floor location of 355 sq ft and faces the escalator near the mall’s main entry. It is marked up at $2.6 million, or $7,324 psf.
Far East Plaza is a freehold mixed-use development completed in 1982. It comprises a five-storey retail shopping mall and serviced apartments. The property development is in just walking distance of Orchard Road MRT Stop.
A list of 14 retail shops 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 presenting the real estates, which have a total price of $26.46 million.
Springleaf Residence floor plan
Sim Lim Square is a strata-titled commercial property on Rochor Canal Roadway in District 7. Completed in 1987, it has 492 commercial units spread across six levels and two basement levels.
Two units are located at Peninsula Plaza, a 999-year leasehold mixed-use property development on North Bridge Roadway. The adjoining ground-floor store units have a combined strata area of around 990 sq ft and are seeking $8 million, or $8,081 psf.
The EOI is going to close up on April 17 at 3pm.
Donald Goh, executive of resources markets and financial investment sales at ERA, states the properties are going to attract attention from both property clients 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 documented in each location, 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 offered for $5,309 psf and $5,657 psf, respectively, a testimony that strata retail stores are still an appealing investment.”
The outlets can be bought together or independently. Individual units are priced from $840,000, whilst the whole profile has an asking price of $15.855 million, that ERA says is a 20% discount from its latest valuation. The cost converts to $3,120 psf on the strata location.
At Sim Lim Square, 11 strata units with an overall strata area of 5,081 sq ft are available for sale. Zoned for commercial use, the units are all on the fifth floor and have a 99-year lease that began in April 1983, leaving about 57 years remaining. According to ERA, the majority of the units are currently tenanted. The shops face the mall’s main atrium and provide direct connectivity from the escalators and lifts.
