Three strata retail units in Orchard, Marine Parade, and Bukit Merah for sale at $8.3 mil
The third real estate for revenue is an HDB shop unit at 163 Bukit Merah Central. Located on the third level, 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 sold with vacant ownership.
The retail unit has a strata location of about 657 sq ft and has a guide cost of $2.2 million, or $3,349 psf. It is located on level five of the shopping center, throughout an area dedicated to a health care centre. Presently, the unit is fully tenanted to a dental clinic. CBRE says the unit up for sale is among minority not possessed by Parkway Parade Partnership, that has around 77% of the strata retail lots at the property development.
Found inside Bukit Merah Town Centre, the retail unit benefits from its distance to a range of amenities, including a food centre, polyclinic, supermarket, HDB branch office and a range of retail shops and services.
A trio of strata retail units all over Orchard, Marine Parade and Bukit Merah is up for sale via expression of interest (EOI), claims its exclusive marketing agent, CBRE. The overall account has a cumulative guide rate of $8.3 million, although the units can also be purchased separately.
The very first retail unit, positioned in Midpoint Orchard around Orchard Road, has a guide cost 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 two of the mall and is presently tenanted to a dental clinic. Midpoint Orchard stands within distance to Somerset MRT Station on the North-South Line and is situated straight behind a bus stop.
Clemence Lee, managing administrator of capital markets at CBRE Singapore, claims the units will attract both financiers and end-users. “The units at Midpoint Orchard and Parkway Parade offer a strong tenant covenant with attractive earnings, while the one in Bukit Merah provides an ideal operational space for businesses seeking a calculated existence because area,” he adds.
The second retail unit is located in Parkway Parade, a 22-storey commercial project that comprises an office tower and a seven-storey retail shopping mall. The shopping center is located before the Marine Parade MRT Station on the Thomson-East Coast Line.
All three estates are commercial units, which 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.
