Retail shops at Peninsula Plaza, Sim Lim Square and Far East Plaza for sale at $26.5 mi
Peninsula Plaza is a 30-storey retail development completed in 1980. It includes a six-story retail platform and a 24-storey business office tower. The growth is attached to the City Hall MRT Interchange Location, which offers accessibility to both the North-South and East-West lines.
The stores can be purchased collectively or separately. Individual units are priced from $840,000, whilst the whole profile has an asking price of $15.855 million, that ERA says is a 20% discount from its newest valuation. The rate translates to $3,120 psf on the strata location.
Sim Lim Square is a strata-titled business property on Rochor Canal Roadway in District 7. Concluded in 1987, it has 492 commercial units spread across six floors and 2 basement levels.
The last remaining unit for sale is at Far East Plaza on Scotts Road. Situated on the second level, this freehold retail unit offers a strata floor area of 355 sq ft and encounters the escalator near the shopping mall’s main entry. It is priced at $2.6 million, or $7,324 psf.
Far East Plaza is a freehold mixed-use development completed in 1982. It makes up a five-storey retail shopping mall and serviced apartments. The property development is within walking distance of Orchard Road MRT Stop.
At Sim Lim Square, 11 strata units with an overall strata area of 5,081 sq ft are available for sale. Zoned for commercial use, the units are all on the fifth floor and have a 99-year lease that commenced in April 1983, leaving approximately 57 years remaining. According to ERA, the majority of the units are currently tenanted. The shops face the mall’s main atrium and provide direct access from the escalators and lifts.
The EOI will close up on April 17 at 3pm.
A collection of 14 retail stores at Peninsula Plaza, Sim Lim Square and Far East Plaza is offered for sale via an expression of interest (EOI) exercise. ERA Realty Network is promoting the properties, which have a complete cost of $26.46 million.
Donald Goh, executive of capital markets and financial investment sales at ERA, says the properties will attract interest from both property investors and businessmen. He indicates that strata retail sales in the Downtown Core and Orchard Planning Area remained resilient in 2024, with 28 and 33 transactions recorded in each place, respectively. Goh adds: “A ground floor unit at Lucky Plaza was cost $15,242 psf whilst units at Orchard Towers and The 101 were sold for $5,309 psf and $5,657 psf, respectively, a testimony that strata retail stores are still a desirable financial investment.”
Two units are located at Peninsula Plaza, a 999-year leasehold mixed-use project on North Bridge Roadway. The adjoining ground-floor store units have a combined strata area of around 990 sq ft and are asking for $8 million, or $8,081 psf.
