Four freehold retail units at Siglap V for sale at $13 mil
Siglap V is a freehold mixed-use development with 114 residential apartments atop a retail podium. (Photo: CBRE)
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Four ground-floor retail units at Siglap V, a mixed-use development on First Street in District 15, are being offered for sale via an expression of interest (EOI) exercise. The freehold assets have a collective guide price of $13 million.
The units have a combined strata area of approximately 3,660 sq ft. Based on the strata area, the guide price works out to $3,552 psf. Foreigners and corporate entities are eligible to purchase the assets, with no additional buyer’s stamp duty applicable.
According to CBRE, the exclusive marketing agent for the properties, three of the units are leased to a spa and massage establishment, with the remaining unit leased to a hair salon. It adds that the units enjoy strong footfall from the surrounding area.
Completed in 2013, Siglap V is a mixed-use development with a ground-floor retail podium and 114 residential apartments. The development is a 14-minute walk from the Siglap MRT Station on the Thomson-East Coast Line.
Michael Tay, deputy managing director and head of capital markets at CBRE Singapore, notes that commercial retail units in densely populated areas are attracting robust demand from family offices and high-net-worth individuals, amid recent interest rate reductions.
He adds that such assets offer stable cash flow, resilient performance during market cycles, and potential for rental upside and capital appreciation.
The EOI exercise will close on June 30, at 3pm.
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