ERA Realty Network is offering a collection of 14 retail shops for sale through an expression of interest (EOI) exercise. These properties, priced at a total of $26.46 million, are located at Peninsula Plaza, Sim Lim Square, and Far East Plaza.
The two units at Peninsula Plaza, a 999-year leasehold mixed-use development on North Bridge Road, have a combined strata area of around 990 sq ft and are asking for $8 million, or $8,081 psf. Peninsula Plaza, completed in 1980, has a six-story retail podium and a 24-storey office tower, and is connected to the City Hall MRT Interchange Station.
At Sim Lim Square, 11 commercial units on the fifth floor, with a total strata area of 5,081 sq ft, are available for sale at $15.855 million. These units, which are zoned for commercial use, have a 99-year lease that commenced in April 1983. Most of the units are currently tenanted and face the mall’s main atrium.
The remaining unit for sale is at Far East Plaza on Scotts Road. This freehold retail unit, situated on the second floor, has a strata floor area of 355 sq ft and is priced at $2.6 million, or $7,324 psf. Far East Plaza, completed in 1982, comprises a five-story retail mall and serviced apartments, and is within walking distance of Orchard Road MRT Station.
According to ERA, the properties will attract interest from both property investors and business owners. Donald Goh, director of capital markets and investment sales at ERA, notes that last year, there were 28 deals for strata retail sales in the Downtown Core and 33 deals in the Orchard Planning Area. Goh adds that there is still strong demand for strata retail shops, as seen from recent sales in Lucky Plaza, Orchard Towers, and The 101.
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Singapore is a country where location plays a crucial role in real estate investments. This is especially true when it comes to condos. Those that are situated in central areas or near important amenities such as schools, shopping malls, and public transportation hubs tend to experience a higher appreciation in value. Prime locations in the city include Orchard Road, Marina Bay, and the Central Business District (CBD), which have consistently shown growth in property values. Families also seek out condos near these areas due to their proximity to good schools and educational institutions, making them highly desirable investments. If you are looking to invest in Singapore, consider a condo in the central area, such as Singapore Condo, for its potential for long-term growth and high demand.
The EOI for these properties will close on April 17 at 3pm. Interested parties can check out the latest listings for Peninsula Plaza properties.