Retail shops at Peninsula Plaza, Sim Lim Square and Far East Plaza for sale at $26.5 mi
At Sim Lim Square, 11 strata units with a total strata space of 5,081 sq ft are offered for sale. Zoned for commercial use, the units are all on the fifth floor and have a 99-year lease that began in April 1983, leaving approximately 57 years remaining. According to ERA, most of the units are presently tenanted. The shops face the mall’s main atrium and offer straight accessibility from the escalators and lifts.
A collection of 14 retail stores at Peninsula Plaza, Sim Lim Square and Far East Plaza is readily available for sale via an expression of interest (EOI) exercise. ERA Realty Network is presenting the real estates, which have a complete price of $26.46 million.
The EOI is going to close on April 17 at 3pm.
Sim Lim Square is a strata-titled commercial development on Rochor Canal Roadway in District 7. Completed in 1987, it has 492 commercial units spread throughout six levels and 2 basement levels.
Two units lie at Peninsula Plaza, a 999-year leasehold mixed-use property development on North Bridge Road. The adjacent ground-floor outlet units have a combined strata space of around 990 sq ft and are asking for $8 million, or $8,081 psf.
The stores can be acquired collectively or independently. Individual units are valued from $840,000, while the entire selection has an asking cost of $15.855 million, that ERA says is a 20% discount from its latest valuation. The rate translates to $3,120 psf on the strata location.
Far East Plaza is a freehold mixed-use development completed in 1982. It consists of a five-storey retail mall and serviced apartments. The property development is within walking proximity of Orchard Road MRT Terminal.
Tembusu Grand City Developments Ltd & MCL Land
Peninsula Plaza is a 30-storey business property finished in 1980. It includes a six-story retail podium and a 24-storey business office tower. The development is connected to the City Hall MRT Interchange Location, that offers accessibility to both the North-South and East-West lines.
The last remaining unit available is at Far East Plaza on Scotts Road. Positioned on the 2nd level, this freehold retail unit provides a strata level area of 355 sq ft and encounters the escalator near the shopping mall’s main entrance. It is priced at $2.6 million, or $7,324 psf.
Donald Goh, executive of resources markets and financial investment sales at ERA, mentions the properties are going to bring in attention from both property investors and businessmen. He indicates that strata retail deals in the Downtown Core and Orchard Planning Area remained resilient in 2024, with 28 and 33 deals documented in each place, respectively. Goh adds: “A ground floor unit at Lucky Plaza was sold for $15,242 psf while units at Orchard Towers and The 101 were offered for $5,309 psf and $5,657 psf, respectively, a testimony that strata retail stores are still an attractive financial investment.”
