Three strata retail units in Orchard, Marine Parade, and Bukit Merah for sale at $8.3 mil
The second retail unit stands in Parkway Parade, a 22-storey commercial development that comprises a workplace tower and a seven-storey retail shopping center. The shopping mall lies facing the Marine Parade MRT Station on the Thomson-East Coast Line.
All three properties are commercial units, which means they are not subjected to additional buyer’s stamp duty or seller’s stamp duty. The EOI exercise is set to seal on April 30 at 3pm.
The first retail unit, situated in Midpoint Orchard around Orchard Road, has a guide cost 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 stands inside distance to Somerset MRT Station on the North-South Line and is positioned straight behind a bus stop.
Found inside Bukit Merah Town Centre, the retail unit take advantage of its proximity to a range of amenities, 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 cost of $2.2 million, or $3,349 psf. It stands on level five of the shopping center, throughout an area dedicated to a clinical centre. Presently, the unit is totally tenanted to a dental clinic. CBRE claims the unit up for sale is just one of the few not kept by Parkway Parade Partnership, which manages about 77% of the strata retail lots at the property development.
The 3rd real estate for sale is an HDB shop unit at 163 Bukit Merah Central. Positioned on the third level, 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 sold with vacant ownership.
A trio of strata retail units across Orchard, Marine Parade and Bukit Merah is up for purchase via expression of interest (EOI), states its special marketing agent, CBRE. The entire account has a collective guide cost of $8.3 million, though the units can also be bought independently.
Clemence Lee, managing director of capital markets at CBRE Singapore, claims the units will certainly attract both financiers and end-users. “The units at Midpoint Orchard and Parkway Parade offer a solid tenant covenant with attractive earnings, while the one in Bukit Merah gives an ideal operational space for businesses looking for a strategic presence because area,” he adds.
