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, claims the units will certainly interest both capitalists and end-users. “The units at Midpoint Orchard and Parkway Parade provide a strong tenant covenant with eye-catching income, while the one in Bukit Merah provides an ideal operational space for businesses seeking a tactical visibility because location,” he includes.
The second retail unit is located in Parkway Parade, a 22-storey industrial development that consists of 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.
The retail unit has a strata location of about 657 sq ft and has an overview 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 fully tenanted to an oral facility. CBRE says the unit up for sale is just one of minority not possessed by Parkway Parade Partnership, which owns around 77% of the strata retail lots at the property development.
Located inside Bukit Merah Town Centre, the retail unit benefits from its proximity to a variety of services, including a food centre, polyclinic, supermarket, HDB branch office and a selection of retail shops and services.
A trio of strata retail units all over Orchard, Marine Parade and Bukit Merah is up for sale via expression of interest (EOI), says its special marketing representative, CBRE. The entire portfolio has a collective overview price of $8.3 million, although the units can also be purchased separately.
All three estates are commercial units, that suggests they are not subjected to additional buyer’s stamp duty or seller’s stamp duty. The EOI exercise is determined to seal on April 30 at 3pm.
The 3rd real estate for sale is an HDB outlet unit at 163 Bukit Merah Central. Positioned on the 3rd level, it offers a strata area of 840 sq ft and is priced at a guide of $1.3 million, or $1,548 per sq ft. The unit will be sold with vacant ownership.
The very 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 around 1,055 sq ft on level two of the mall and is currently tenanted to an oral facility. Midpoint Orchard lies inside distance to Somerset MRT Station on the North-South Line and is positioned straight behind a bus stop.
