The vendors expect offers of about $55.6 million, or $2,200 psf, notes JLL. Last year, a unit in the basement of Parklane Shopping Mall — which did not belong to Hiap Hoe — changed hands at $2,192 psf. “The passing yield, based on the indicative price of $55.6 million, is about 3.5% per annum, with potential to rise above 4% with increments in rents,” Singh says. The EOI exercise for the Parklane basement units closes on Nov 4.