Freehold retail podium at 183 Longhaus for sale at $35.1 mil
/ EdgeProp Singapore |
The retail podium was previously put up for sale in March 2022 for $38 mil (Picture: Samuel Isaac Chua/The Edge Singapore)
SINGAPORE (EDGEPROP) - The retail podium at 183 Longhaus, a freehold mixed-use development on Upper Thomson Road, is up for sale via an expression of interest (EOI) exercise. Comprising 10 shops and F&B units spanning a total strata area of 11,291 sq ft, the portfolio has a guide price of $35.1 million or $3,109 sq ft, says marketing agency Knight Frank Singapore.
183 Longhaus is a four-storey development by Amcorp Global (formerly Tee Land) that was completed in July 2019. It includes the retail podium as well as 40 residential units on the second to fourth floors. In March of last year, Amcorp Global had put the retail podium up for sale through an EOI with a guide price of $38 million ($3,366 psf).
Map of 183 Longhaus (Source: EdgeProp LandLens)
The retail podium comprises the basement and ground floors of the development and features a wide frontage of about 50m facing Upper Thomson Road. Current tenants include eateries SOD café, Kow King of Wagyui and Woodlands Sourdough as well as fitness franchise F45 Training.
“The listing presents an exclusive investment opportunity for investors to acquire the only available freehold retail podium within a mixed-use development in District 20,” says Tania Ong, senior manager, capital markets (land and building, international real estate) at Knight Frank Singapore. She also highlights that the commercial units represent a total of 27.9% of the development’s share value, which means the purchaser will get majority veto rights to en bloc. (See potential condos with en bloc calculator)
Daniel Ding, Knight Frank Singapore's managing director of capital markets (land and building, international real estate), expects keen interest in the property, noting that demand for strata retail units remains healthy. “The recent cooling measures targeted at residential properties, open borders throughout the Asia-Pacific region, and the limited supply of good quality retail assets are likely to draw investors’ demand to commercial properties.”
Recent resale transactions for commercial properties along Upper Thomson Road (Source: EdgeProp Research)
The EOI for the retail podium will close on Aug 31 at 3pm.
Check out the latest listings near 183 Longhaus, Upper Thomson Road
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