Three strata retail units in Orchard, Marine Parade, and Bukit Merah for sale at $8.3 mil
Clemence Lee, executive director of capital markets at CBRE Singapore, claims the units will certainly interest both financiers and end-users. “The units at Midpoint Orchard and Parkway Parade provide a strong tenant covenant with attractive earnings, whilst the one in Bukit Merah gives an ideal operational space for businesses seeking a strategic presence in that area,” he adds.
The retail unit has a strata area 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, inside an area dedicated to a clinical centre. Currently, the unit is completely tenanted to a dental facility. CBRE states the unit up for sale is one of the few not held by Parkway Parade Partnership, which owns around 77% of the strata retail lots at the property development.
Found within Bukit Merah Town Centre, the retail unit take advantage of its proximity to a range of amenities, including a food centre, polyclinic, supermarket, HDB branch workplace and a variety of retail shops and services.
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 entire portfolio has a collective overview cost of $8.3 million, although the units can also be bought individually.
The very first retail unit, situated 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 location of around 1,055 sq ft on level 2 of the shopping center and is currently tenanted to a dental center. Midpoint Orchard is located inside proximity to Somerset MRT Station on the North-South Line and is positioned straight behind a bus stop.
All three properties are commercial units, that indicates they are not subjected to additional buyer’s stamp duty or seller’s stamp duty. The EOI exercise is set to close on April 30 at 3pm.
The 3rd property for sale is an HDB store unit at 163 Bukit Merah Central. Situated on the third floor, it presents a strata area of 840 sq ft and is valued at a guide of $1.3 million, or $1,548 per sq ft. The unit will be offered with vacant ownership.
The second retail unit is located in Parkway Parade, a 22-storey commercial project that makes up an office tower and a seven-storey retail mall. The shopping mall is located facing the Marine Parade MRT Station on the Thomson-East Coast Line.
