Three strata retail units in Orchard, Marine Parade, and Bukit Merah for sale at $8.3 mil
A trio of strata retail units across Orchard, Marine Parade and Bukit Merah is up for sale via expression of interest (EOI), claims its exclusive marketing representative, CBRE. The entire portfolio has a collective guide cost of $8.3 million, although the units can also be bought individually.
The second retail unit is located in Parkway Parade, a 22-storey commercial project that comprises an office tower and a seven-storey retail shopping center. The mall is located before the Marine Parade MRT Station on the Thomson-East Coast Line.
Clemence Lee, managing director of capital markets at CBRE Singapore, says the units will certainly appeal to both capitalists and end-users. “The units at Midpoint Orchard and Parkway Parade provide a strong tenant covenant with eye-catching earnings, while the one in Bukit Merah gives an ideal operational space for businesses looking for a tactical existence in that location,” he adds.
The first retail unit, located in Midpoint Orchard around Orchard Road, has a guide price of $4.8 million or $4,550 psf. According to CBRE, the property unit has a strata area of about 1,055 sq ft on level 2 of the shopping mall and is currently tenanted to a dental facility. Midpoint Orchard is located within distance to Somerset MRT Station on the North-South Line and is positioned directly behind a bus stop.
All three estates are commercial units, which implies they are not subjected to extra buyer’s stamp duty or seller’s stamp duty. The EOI exercise is determined to close on April 30 at 3pm.
The 3rd real estate for revenue is an HDB outlet unit at 163 Bukit Merah Central. Positioned on the third level, it offers a strata area of 840 sq ft and is marked up at a guide of $1.3 million, or $1,548 per sq ft. The unit will be sold with vacant possession.
Located within Bukit Merah Town Centre, the retail unit benefits from its distance to a variety of services, including a food center, polyclinic, supermarket, HDB branch office and a range of retail shops and services.
The retail unit has a strata location of about 657 sq ft and has a guide price of $2.2 million, or $3,349 psf. It stands on level five of the shopping mall, within an area dedicated to a health care centre. Presently, the unit is fully tenanted to a dental center. CBRE states the unit up for sale is among minority not held by Parkway Parade Partnership, which manages about 77% of the strata retail lots at the property development.
