Three strata retail units in Orchard, Marine Parade, and Bukit Merah for sale at $8.3 mil
Found inside Bukit Merah Town Centre, the retail unit take advantage of its proximity to a series of services, including a food centre, polyclinic, supermarket, HDB branch workplace and a selection of retail shops and services.
The second retail unit lies in Parkway Parade, a 22-storey business development that consists of a workplace tower and a seven-storey retail shopping mall. The mall is located in front of the Marine Parade MRT Station on the Thomson-East Coast Line.
Clemence Lee, executive administrator of capital markets at CBRE Singapore, says the units will certainly appeal to both financiers and end-users. “The units at Midpoint Orchard and Parkway Parade offer a strong tenant covenant with eye-catching income, whilst the one in Bukit Merah gives an ideal operational space for businesses looking for a calculated existence in that location,” he includes.
A trio of strata retail units all over Orchard, Marine Parade and Bukit Merah is up for sale via expression of interest (EOI), says its special marketing agent, CBRE. The entire account has a cumulative overview cost of $8.3 million, although the units can also be bought separately.
The initial retail unit, situated in Midpoint Orchard around Orchard Road, has a guide price of $4.8 million or $4,550 psf. According to CBRE, the property unit has a strata area of around 1,055 sq ft on level 2 of the shopping center and is currently tenanted to an oral facility. Midpoint Orchard lies inside distance to Somerset MRT Station on the North-South Line and is situated straight behind a bus stop.
Springleaf Residence condominium
The retail unit has a strata location of about 657 sq ft and has a guide rate of $2.2 million, or $3,349 psf. It is located on level five of the mall, inside an area dedicated to a medical centre. Presently, the unit is fully tenanted to a dental clinic. CBRE says the unit up for sale is just one of the few not possessed by Parkway Parade Partnership, that owns about 77% of the strata retail lots at the development.
The 3rd property for deal is an HDB outlet unit at 163 Bukit Merah Central. Located on the third floor, it provides 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 sold with vacant ownership.
All three properties are commercial units, that implies they are not subjected to extra buyer’s stamp duty or seller’s stamp duty. The EOI exercise is set to seal on April 30 at 3pm.
