Retail shops at Peninsula Plaza, Sim Lim Square and Far East Plaza for sale at $26.5 mi
A list of 14 retail shops at Peninsula Plaza, Sim Lim Square and Far East Plaza is readily available for sale through an expression of interest (EOI) exercise. ERA Realty Network is marketing the properties, which have a total cost of $26.46 million.
Donald Goh, executive of resources markets and investment sales at ERA, states the properties are going to draw in interest from both property clients and business owners. He indicates that strata retail deals in the Downtown Core and Orchard Planning Area remained resilient in 2024, with 28 and 33 deals documented in each place, respectively. Goh adds: “A ground floor unit at Lucky Plaza was sold for $15,242 psf while units at Orchard Towers and The 101 were retailed for $5,309 psf and $5,657 psf, respectively, a testimony that strata retail outlets are still an attractive investment.”
The stores can be acquired together or individually. Individual units are valued from $840,000, while the whole portfolio has an asking price of $15.855 million, that ERA says is a 20% discount from its latest valuation. The price equates to $3,120 psf on the strata place.
Kassia Condo Tripartite Developers Pte Ltd
Peninsula Plaza is a 30-storey business property done in 1980. It features a six-story retail podium and a 24-storey office tower. The growth is attached to the City Hall MRT Interchange Station, which provides access to both the North-South and East-West lines.
Sim Lim Square is a strata-titled business development on Rochor Canal Road in District 7. Completed in 1987, it has 492 commercial units spread across six levels and 2 basement levels.
Far East Plaza is a freehold mixed-use development completed in 1982. It comprises a five-storey retail shopping mall and serviced apartments. The property development is within walking proximity of Orchard Road MRT Station.
Two units stand at Peninsula Plaza, a 999-year leasehold mixed-use development on North Bridge Roadway. The adjacent ground-floor shop units have a shared strata area of around 990 sq ft and are seeking $8 million, or $8,081 psf.
The EOI will close on April 17 at 3pm.
The last remaining unit available is at Far East Plaza on Scotts Road. Positioned on the 2nd level, this freehold retail unit offers a strata level location of 355 sq ft and faces the escalator near the shopping center’s major entryway. It is valued at $2.6 million, or $7,324 psf.
At Sim Lim Square, 11 strata units with an entire strata space of 5,081 sq ft are offered for sale. Zoned for commercial use, the units are all on the fifth floor and have a 99-year lease that began in April 1983, leaving around 57 years remaining. According to ERA, most of the units are currently tenanted. The shops face the mall’s main atrium and provide straight connectivity from the escalators and lifts.
