Three strata retail units in Orchard, Marine Parade, and Bukit Merah for sale at $8.3 mil
Clemence Lee, managing director of capital markets at CBRE Singapore, says the units will attract both capitalists and end-users. “The units at Midpoint Orchard and Parkway Parade provide a solid tenant covenant with appealing income, while the one in Bukit Merah provides an ideal operational space for businesses looking for a tactical visibility because area,” he includes.
The Arcady @ Boon Keng condominium
The 3rd property for sale is an HDB shop unit at 163 Bukit Merah Central. Positioned on the 3rd level, it provides 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.
All three estates are commercial units, that implies they are not subjected to added buyer’s stamp duty or seller’s stamp duty. The EOI exercise is determined to seal on April 30 at 3pm.
Located within Bukit Merah Town Centre, the retail unit take advantage of its distance to a range of amenities, including a food centre, polyclinic, supermarket, HDB branch workplace and a variety of retail shops and services.
The first retail unit, positioned in Midpoint Orchard along Orchard Road, has a guide rate 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 shopping mall and is presently tenanted to an oral facility. Midpoint Orchard is located inside proximity to Somerset MRT Station on the North-South Line and is positioned directly behind a bus stop.
The 2nd retail unit lies in Parkway Parade, a 22-storey commercial development that consists of a workplace tower and a seven-storey retail shopping mall. The mall stands facing the Marine Parade MRT Station on the Thomson-East Coast Line.
A trio of strata retail units all over Orchard, Marine Parade and Bukit Merah is up for purchase via expression of interest (EOI), states its special marketing agent, CBRE. The entire portfolio has a cumulative overview price of $8.3 million, though the units can also be purchased independently.
The retail unit has a strata space of about 657 sq ft and has an overview rate of $2.2 million, or $3,349 psf. It lies on level five of the mall, within an area dedicated to a clinical centre. Presently, the unit is totally tenanted to a dental center. CBRE states the unit up for sale is among minority not held by Parkway Parade Partnership, that has around 77% of the strata retail lots at the property development.
