Two freehold shop units in Siglap Shopping Centre going for $8.8 mil

/ EdgeProp Singapore |
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SINGAPORE (EDGEPROP) - Two adjoining shop units in Siglap Shopping Centre are on the market for $8.8 million, or about $2,878 psf. Located close to the junction of East Coast Road and Siglap Road, the freehold Siglap Shopping Centre is a three-storey, mixed-use development. The ground-floor units on offer have a combined strata area of 3,057 sq ft and are currently tenanted to a childcare centre.
The sale will be conducted through an expression of interest (EOI) exercise, announced marketing agent CBRE. There will be no additional buyer’s stamp duty or seller’s stamp duty; thus, both foreigners and companies are eligible to purchase the property.
SIGLAP SHOPPING CENTRE - The pair of adjacent ground floor shop units are tenanted to a childcare centre
The pair of adjacent ground floor shop units are tenanted to a childcare centre
“This is a rare opportunity for both investors and end-users to own freehold ground-floor units in the bustling Siglap estate, and at an attractive price. Units on the ground floor are usually tightly held and are seldom made available for sale due to their high visibility and the heavy human traffic flow,” says Michael Tay, senior executive director of capital markets at CBRE.
Interest is expected to come from investors looking to purchase prime freehold units with immediate and stable income, as well as owner-occupiers looking for space for their own use, he says.
The EOI will close on Oct 30.
For price trends, recent transactions, other project info, check out the Siglap Shopping Centre project research page
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