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 purchase via expression of interest (EOI), states its special marketing agent, CBRE. The entire portfolio has a collective guide rate of $8.3 million, though the units can also be purchased individually.
Clemence Lee, executive administrator of capital markets at CBRE Singapore, states the units will certainly appeal to both investors and end-users. “The units at Midpoint Orchard and Parkway Parade offer a solid tenant covenant with appealing income, while the one in Bukit Merah gives an ideal operational space for businesses looking for a critical presence because location,” he includes.
Found inside Bukit Merah Town Centre, the retail unit take advantage of its distance to a series of amenities, including a food centre, polyclinic, supermarket, HDB branch workplace and a variety of retail shops and services.
The retail unit has a strata area of about 657 sq ft and has an overview rate of $2.2 million, or $3,349 psf. It is located on level five of the shopping mall, inside an area dedicated to a clinical centre. Presently, the unit is fully tenanted to a dental center. CBRE states the unit up for sale is just one of minority not kept by Parkway Parade Partnership, that has around 77% of the strata retail lots at the property development.
The first retail unit, positioned in Midpoint Orchard along 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 around 1,055 sq ft on level 2 of the mall and is currently tenanted to an oral center. Midpoint Orchard lies within proximity to Somerset MRT Station on the North-South Line and is positioned straight behind a bus stop.
The second retail unit is located in Parkway Parade, a 22-storey business project that consists of a workplace tower and a seven-storey retail shopping center. The shopping mall stands in front of the Marine Parade MRT Station on the Thomson-East Coast Line.
The third real estate for revenue is an HDB outlet unit at 163 Bukit Merah Central. Positioned on the 3rd floor, it offers a strata area of 840 sq ft and is valued at an overview of $1.3 million, or $1,548 per sq ft. The unit will be offered with vacant ownership.
All three properties are commercial units, that means they are not subjected to added buyer’s stamp duty or seller’s stamp duty. The EOI exercise is determined to seal on April 30 at 3pm.
