Three strata retail units in Orchard, Marine Parade, and Bukit Merah for sale at $8.3 mil
All three real estates are commercial units, that 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 second retail unit lies in Parkway Parade, a 22-storey business project that comprises a workplace tower and a seven-storey retail shopping mall. The shopping center is located in front of the Marine Parade MRT Station on the Thomson-East Coast Line.
A trio of strata retail units throughout Orchard, Marine Parade and Bukit Merah is up for purchase via expression of interest (EOI), claims its exclusive marketing representative, CBRE. The overall portfolio has a cumulative overview price of $8.3 million, though the units can also be purchased separately.
The 3rd property for deal is an HDB outlet unit at 163 Bukit Merah Central. Situated on the third ground, it provides a strata area of 840 sq ft and is priced at an overview of $1.3 million, or $1,548 per sq ft. The unit will be offered with vacant possession.
The retail unit has a strata space of about 657 sq ft and has a guide price of $2.2 million, or $3,349 psf. It lies on level five of the shopping center, throughout an area dedicated to a clinical centre. Currently, the unit is completely tenanted to a dental center. CBRE claims the unit up for sale is one of the few not possessed by Parkway Parade Partnership, that manages around 77% of the strata retail lots at the development.
Found inside Bukit Merah Town Centre, the retail unit gain from its distance to a series of amenities, including a food center, polyclinic, supermarket, HDB branch workplace and a range of retail shops and services.
The very first retail unit, positioned in Midpoint Orchard around 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 around 1,055 sq ft on level 2 of the mall and is currently tenanted to a dental facility. Midpoint Orchard is located inside proximity to Somerset MRT Station on the North-South Line and is positioned straight behind a bus stop.
Clemence Lee, managing director of capital markets at CBRE Singapore, claims 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 appealing earnings, while the one in Bukit Merah offers an ideal operational space for businesses seeking a calculated presence because area,” he includes.
