Three strata retail units in Orchard, Marine Parade, and Bukit Merah for sale at $8.3 mil
The retail unit has a strata area of about 657 sq ft and has a guide cost of $2.2 million, or $3,349 psf. It stands on level five of the mall, inside an area dedicated to a health care centre. Presently, the unit is completely tenanted to a dental center. CBRE states the unit up for sale is among the few not possessed by Parkway Parade Partnership, which manages around 77% of the strata retail lots at the property development.
The 2nd retail unit stands in Parkway Parade, a 22-storey commercial project that consists of a workplace tower and a seven-storey retail mall. The mall stands facing 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 sale via expression of interest (EOI), says its special marketing representative, CBRE. The entire portfolio has a collective guide price of $8.3 million, although the units can also be purchased independently.
The 3rd property for deal is an HDB outlet unit at 163 Bukit Merah Central. Situated on the third floor, it provides a strata area of 840 sq ft and is marked up at a guide of $1.3 million, or $1,548 per sq ft. The unit will be sold with vacant ownership.
Clemence Lee, executive administrator of capital markets at CBRE Singapore, claims the units will certainly attract both investors and end-users. “The units at Midpoint Orchard and Parkway Parade provide a strong tenant covenant with appealing revenue, while the one in Bukit Merah provides an ideal operational space for businesses looking for a strategic presence because area,” he adds.
Situated within Bukit Merah Town Centre, the retail unit gain from its distance to a series of services, including a food centre, polyclinic, supermarket, HDB branch workplace and a selection of retail shops and services.
All three properties are commercial units, which means they are not subjected to extra buyer’s stamp duty or seller’s stamp duty. The EOI exercise is set up to seal on April 30 at 3pm.
The very first retail unit, positioned in Midpoint Orchard around Orchard Road, has a guide price of $4.8 million or $4,550 psf. According to CBRE, the freehold unit has a strata area of about 1,055 sq ft on level 2 of the mall and is presently tenanted to a dental center. Midpoint Orchard stands within proximity to Somerset MRT Station on the North-South Line and is situated straight behind a bus stop.
