Retail shops at Peninsula Plaza, Sim Lim Square and Far East Plaza for sale at $26.5 mi
Donald Goh, director of resources markets and investment sales at ERA, states the properties will draw in interest from both property clients and entrepreneur. He notes that strata retail revenues in the Downtown Core and Orchard Planning Area remained resilient in 2024, with 28 and 33 contracts reported in each place, respectively. Goh adds: “A ground floor unit at Lucky Plaza was sold for $15,242 psf whilst units at Orchard Towers and The 101 were offered for $5,309 psf and $5,657 psf, respectively, a testament that strata retail stores are still an appealing investment.”
Sim Lim Square is a strata-titled business development on Rochor Canal Road in District 7. Concluded in 1987, it has 492 commercial units spread across six levels and 2 basement levels.
The last remaining unit available is at Far East Plaza on Scotts Road. Located on the second floor, this freehold retail unit provides a strata level location of 355 sq ft and encounters the escalator near the shopping center’s major entrance. It is valued at $2.6 million, or $7,324 psf.
Peninsula Plaza is a 30-storey commercial building finished in 1980. It features a six-story retail platform and a 24-storey workplace high rise. The growth is connected to the City Hall MRT Interchange Station, that provides accessibility to both the North-South and East-West lines.
The outlets can be bought collectively or separately. Individual units are priced from $840,000, while the whole profile has an asking price of $15.855 million, which ERA says is a 20% discount from its newest valuation. The rate converts to $3,120 psf on the strata area.
Two units stand at Peninsula Plaza, a 999-year leasehold mixed-use property development on North Bridge Roadway. The adjacent ground-floor shop units have a combined strata area of around 990 sq ft and are requesting for $8 million, or $8,081 psf.
The EOI is going to close on April 17 at 3pm.
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 Station.
At Sim Lim Square, 11 strata units with a total strata area of 5,081 sq ft are offered for sale. Zoned for commercial use, the units are all on the 5th flooring and have a 99-year lease that began in April 1983, leaving approximately 57 years remaining. According to ERA, most of the units are currently tenanted. The shops face the mall’s main atrium and offer direct access from the escalators and lifts.
A list of 14 retail outlets at Peninsula Plaza, Sim Lim Square and Far East Plaza is available for sale via an expression of interest (EOI) exercise. ERA Realty Network is marketing the real estates, that have a total cost of $26.46 million.
