Portfolio of strata commercial units at Singapore Shopping Centre for sale at $40 mil
/ EdgeProp Singapore |
Singapore Shopping Centre (Picture: Edmund Tie)
SINGAPORE (EDGEPROP) - A portfolio of 39 strata commercial units in Singapore Shopping Centre, a seven-storey commercial development in the Orchard Road area, is up for sale via an expression of interest (EOI) exercise for $40 million.
The portfolio comprises a total of 23,000 sq ft of contiguous commercial space spread across two floors. The space measures approximately 8,600 sq ft on one floor and 14,400 sq ft on the other. Overall, the portfolio represents about 22% of the total strata floor area and 20% of the total share values at Singapore Shopping Centre. The guide price of $40 million translates to $1,739 psf on the strata area. (Find Singapore commercial properties with our commercial directory)
According to Edmund Tie, the exclusive marketing agent for the property, interested parties have the flexibility to acquire the entire portfolio or individual strata units.
Map and overview of Singapore Shopping Centre (Source: EdgeProp LandLens)
“This portfolio of prime commercial space offers an affordable option for owner-occupiers looking to operate business in a central location,” observes Swee Shou Fern, head of investment advisory at Edmund Tie.
She adds that the property will appeal to investors seeking future potential capital upside. “Leveraging its strategic location in Orchard Road, the subject property will benefit from the plans for a major revamp of Orchard Road that will invigorate the location as a lifestyle destination,” she says.
Recent resale transactions at Singapore Shopping Centre (Source: EdgeProp Inspector)
Singapore Shopping Centre is located near the corner of Penang Road and Clemenceau Avenue, facing Istana Park, Dhoby Ghaut Green and Dhoby Ghaut MRT Interchange Station.
The EOI exercise for the portfolio will close on Dec 9 at 3pm.
Chart showing transacted price trend for Singapore Shopping Centre (Source: EdgeProp Inspector)
Check out the latest listings near Singapore Shopping Centre, Orchard Road, Dhoby Ghaut MRT Interchange Station
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