Three strata retail units in Orchard, Marine Parade, and Bukit Merah for sale at $8.3 mil
Situated inside Bukit Merah Town Centre, the retail unit benefits from its closeness to a series of features, including a food center, polyclinic, supermarket, HDB branch workplace and a selection of retail shops and services.
The second retail unit stands in Parkway Parade, a 22-storey industrial development that comprises a workplace tower and a seven-storey retail shopping center. The shopping mall lies facing the Marine Parade MRT Station on the Thomson-East Coast Line.
The retail unit has a strata location of about 657 sq ft and has a guide price of $2.2 million, or $3,349 psf. It lies on level five of the shopping mall, throughout an area dedicated to a clinical centre. Presently, the unit is fully tenanted to a dental clinic. CBRE states the unit up for sale is one of the few not held by Parkway Parade Partnership, that has around 77% of the strata retail lots at the property development.
All three estates are commercial units, that indicates they are not subjected to extra buyer’s stamp duty or seller’s stamp duty. The EOI exercise is determined to seal on April 30 at 3pm.
A trio of strata retail units throughout Orchard, Marine Parade and Bukit Merah is up for purchase via expression of interest (EOI), claims its exclusive marketing agent, CBRE. The overall account has a cumulative guide cost of $8.3 million, though the units can also be bought separately.
Clemence Lee, managing administrator of capital markets at CBRE Singapore, states the units will appeal to both financiers and end-users. “The units at Midpoint Orchard and Parkway Parade offer a strong tenant covenant with eye-catching earnings, whilst the one in Bukit Merah gives an ideal operational space for businesses looking for a critical existence because location,” he adds.
The 3rd property for revenue is an HDB shop unit at 163 Bukit Merah Central. Situated on the 3rd ground, it presents a strata area of 840 sq ft and is priced at a guide of $1.3 million, or $1,548 per sq ft. The unit will be marketed with vacant possession.
The initial 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 2 of the shopping mall and is currently tenanted to an oral center. Midpoint Orchard stands inside distance to Somerset MRT Station on the North-South Line and is positioned directly behind a bus stop.
