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 attract both investors and end-users. “The units at Midpoint Orchard and Parkway Parade offer a strong tenant covenant with attractive revenue, whilst the one in Bukit Merah gives an ideal operational space for businesses seeking a calculated presence in that location,” he adds.
A trio of strata retail units all over Orchard, Marine Parade and Bukit Merah is up for purchase via expression of interest (EOI), claims its special marketing agent, CBRE. The overall account has a collective overview rate of $8.3 million, although the units can also be bought separately.
The third property for revenue is an HDB outlet unit at 163 Bukit Merah Central. Situated on the third floor, it offers a strata area of 840 sq ft and is marked up at an overview of $1.3 million, or $1,548 per sq ft. The unit will be offered with vacant possession.
All three real estates are commercial units, which means they are not subjected to added buyer’s stamp duty or seller’s stamp duty. The EOI exercise is set up to close on April 30 at 3pm.
The retail unit has a strata space of about 657 sq ft and has an overview cost of $2.2 million, or $3,349 psf. It lies on level five of the shopping center, inside an area dedicated to a medical centre. Presently, the unit is totally tenanted to an oral facility. CBRE claims the unit up for sale is one of the few not possessed by Parkway Parade Partnership, which has about 77% of the strata retail lots at the property development.
Located within Bukit Merah Town Centre, the retail unit gain from its distance to a range of features, including a food center, polyclinic, supermarket, HDB branch workplace and a selection of retail shops and services.
The 2nd retail unit stands in Parkway Parade, a 22-storey industrial development that comprises an office tower and a seven-storey retail mall. The mall is located in front of the Marine Parade MRT Station on the Thomson-East Coast Line.
The first retail unit, situated 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 location of about 1,055 sq ft on level 2 of the mall and is currently tenanted to an oral clinic. Midpoint Orchard lies inside proximity to Somerset MRT Station on the North-South Line and is situated directly behind a bus stop.
