Three strata retail units in Orchard, Marine Parade, and Bukit Merah for sale at $8.3 mil
Clemence Lee, executive director of capital markets at CBRE Singapore, says the units will certainly appeal to both financiers and end-users. “The units at Midpoint Orchard and Parkway Parade offer a strong tenant covenant with attractive earnings, while the one in Bukit Merah gives an ideal operational space for businesses seeking a strategic existence because area,” he includes.
The third real estate for sale is an HDB outlet unit at 163 Bukit Merah Central. Located on the 3rd floor, it presents a strata area of 840 sq ft and is valued at a guide of $1.3 million, or $1,548 per sq ft. The unit will be marketed with vacant ownership.
A trio of strata retail units across Orchard, Marine Parade and Bukit Merah is up for sale via expression of interest (EOI), says its special marketing agent, CBRE. The entire account has a cumulative guide cost of $8.3 million, although the units can also be bought separately.
Located within Bukit Merah Town Centre, the retail unit benefits from its closeness to a series of services, including a food center, polyclinic, supermarket, HDB branch workplace and a variety of retail shops and services.
The initial retail unit, situated in Midpoint Orchard around Orchard Road, has a guide rate 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 a dental facility. Midpoint Orchard lies inside distance to Somerset MRT Station on the North-South Line and is positioned straight behind a bus stop.
The retail unit has a strata location of about 657 sq ft and has an overview rate of $2.2 million, or $3,349 psf. It lies on level five of the mall, within an area dedicated to a health care centre. Currently, the unit is totally tenanted to an oral facility. CBRE claims the unit up for sale is just one of the few not possessed by Parkway Parade Partnership, that has about 77% of the strata retail lots at the property development.
All three real estates are commercial units, which suggests they are not subjected to added buyer’s stamp duty or seller’s stamp duty. The EOI exercise is set to seal on April 30 at 3pm.
The 2nd retail unit is located in Parkway Parade, a 22-storey commercial development that comprises a workplace tower and a seven-storey retail shopping center. The shopping mall is located facing the Marine Parade MRT Station on the Thomson-East Coast Line.
