Three strata retail units in Orchard, Marine Parade, and Bukit Merah for sale at $8.3 mil
The initial retail unit, situated in Midpoint Orchard along Orchard Road, has a guide price of $4.8 million or $4,550 psf. According to CBRE, the property unit has a strata location of around 1,055 sq ft on level two of the mall and is currently tenanted to a dental facility. Midpoint Orchard is located inside proximity to Somerset MRT Station on the North-South Line and is situated straight behind a bus stop.
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All three estates 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.
A trio of strata retail units all over Orchard, Marine Parade and Bukit Merah is up for purchase via expression of interest (EOI), claims its special marketing agent, CBRE. The entire portfolio has a collective guide cost of $8.3 million, although the units can also be purchased independently.
The retail unit has a strata location of about 657 sq ft and has an overview rate of $2.2 million, or $3,349 psf. It is located on level five of the mall, within an area dedicated to a medical centre. Presently, the unit is totally tenanted to an oral facility. CBRE claims the unit up for sale is just one of minority not kept by Parkway Parade Partnership, that owns about 77% of the strata retail lots at the development.
The second retail unit stands in Parkway Parade, a 22-storey industrial project that consists of a workplace tower and a seven-storey retail shopping mall. The mall lies facing 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 appeal to both financiers and end-users. “The units at Midpoint Orchard and Parkway Parade offer a strong tenant covenant with attractive earnings, whilst the one in Bukit Merah gives an ideal operational space for businesses seeking a tactical visibility because location,” he includes.
Found inside Bukit Merah Town Centre, the retail unit take advantage of its proximity to a range of amenities, including a food center, polyclinic, supermarket, HDB branch office and a variety of retail shops and services.
The third real estate for deal is an HDB shop unit at 163 Bukit Merah Central. Situated on the 3rd level, it presents a strata area of 840 sq ft and is marked up at an overview of $1.3 million, or $1,548 per sq ft. The unit will be marketed with vacant possession.
