Three strata retail units in Orchard, Marine Parade, and Bukit Merah for sale at $8.3 mil
Situated inside Bukit Merah Town Centre, the retail unit benefits from its distance to a range of services, including a food center, polyclinic, supermarket, HDB branch workplace and a range of retail shops and services.
The 2nd retail unit is located in Parkway Parade, a 22-storey business project that comprises a workplace tower and a seven-storey retail mall. The shopping mall is located facing the Marine Parade MRT Station on the Thomson-East Coast Line.
The third property for sale is an HDB store unit at 163 Bukit Merah Central. Situated on the third level, it provides a strata area of 840 sq ft and is marked up at an overview of $1.3 million, or $1,548 per sq ft. The unit will be sold with vacant ownership.
Clemence Lee, executive director of capital markets at CBRE Singapore, says the units will certainly appeal to both investors and end-users. “The units at Midpoint Orchard and Parkway Parade provide a solid tenant covenant with eye-catching earnings, whilst the one in Bukit Merah offers an ideal operational space for businesses seeking a tactical visibility in that area,” he adds.
The first retail unit, positioned in Midpoint Orchard along Orchard Road, has a guide cost of $4.8 million or $4,550 psf. According to CBRE, the freehold unit has a strata area of about 1,055 sq ft on level two of the shopping mall and is presently tenanted to an oral clinic. Midpoint Orchard stands inside proximity to Somerset MRT Station on the North-South Line and is positioned straight behind a bus stop.
The retail unit has a strata space of about 657 sq ft and has an overview rate of $2.2 million, or $3,349 psf. It stands on level five of the shopping center, within an area dedicated to a health care centre. Presently, the unit is totally tenanted to a dental center. CBRE states the unit up for sale is one of the few not kept by Parkway Parade Partnership, that has about 77% of the strata retail lots at the development.
All three estates are commercial units, that suggests they are not subjected to added buyer’s stamp duty or seller’s stamp duty. The EOI exercise is set up to seal on April 30 at 3pm.
A trio of strata retail units across Orchard, Marine Parade and Bukit Merah is up for purchase via expression of interest (EOI), says its exclusive marketing agent, CBRE. The entire portfolio has a collective overview price of $8.3 million, though the units can also be purchased independently.
