Retail shops at Peninsula Plaza, Sim Lim Square and Far East Plaza for sale at $26.5 mi
Donald Goh, director of resources markets and investment sales at ERA, says the properties will bring in attention from both property investors and business owners. He notes that strata retail revenues in the Downtown Core and Orchard Planning Area remained resilient in 2024, with 28 and 33 transactions reported 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 testament that strata retail outlets are still an attractive investment.”
The outlets can be acquired collectively or independently. Individual units are valued from $840,000, whilst the entire selection has an asking cost of $15.855 million, which ERA says is a 20% discount from its newest valuation. The price equates to $3,120 psf on the strata place.
Far East Plaza is a freehold mixed-use development completed in 1982. It consists of a five-storey retail shopping mall and serviced apartments. The property development is in just walking distance of Orchard Road MRT Stop.
A selection of 14 retail outlets at Peninsula Plaza, Sim Lim Square and Far East Plaza is offered for sale via an expression of interest (EOI) exercise. ERA Realty Network is promoting the real estates, that have a total price of $26.46 million.
Two units are located at Peninsula Plaza, a 999-year leasehold mixed-use project on North Bridge Roadway. The adjoining ground-floor outlet units have a shared strata area of around 990 sq ft and are asking for $8 million, or $8,081 psf.
Peninsula Plaza is a 30-storey retail property done in 1980. It features a six-story retail podium and a 24-storey office space tower. The growth is linked to the City Hall MRT Interchange Station, that provides 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 second level, this freehold retail unit supplies a strata floor area of 355 sq ft and encounters the escalator near the mall’s main entryway. It is marked up at $2.6 million, or $7,324 psf.
Sim Lim Square is a strata-titled commercial property on Rochor Canal Road in District 7. Completed in 1987, it has 492 commercial units spread throughout six floors and 2 basement levels.
At Sim Lim Square, 11 strata units with a total strata space of 5,081 sq ft are offered 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 approximately 57 years remaining. According to ERA, most of the units are currently tenanted. The shops face the mall’s main atrium and give straight access from the escalators and lifts.
The EOI is going to close on April 17 at 3pm.
