Three strata retail units in Orchard, Marine Parade, and Bukit Merah for sale at $8.3 mil
A trio of strata retail units throughout Orchard, Marine Parade and Bukit Merah is up for purchase via expression of interest (EOI), states its exclusive marketing agent, CBRE. The entire account has a collective overview cost of $8.3 million, though the units can also be bought separately.
The 3rd real estate for deal is an HDB outlet unit at 163 Bukit Merah Central. Located on the third ground, 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 marketed with vacant ownership.
The retail unit has a strata space of about 657 sq ft and has a guide price of $2.2 million, or $3,349 psf. It lies on level five of the shopping center, throughout an area dedicated to a health care centre. Currently, the unit is totally tenanted to an oral facility. CBRE states the unit up for sale is among the few not kept by Parkway Parade Partnership, which owns around 77% of the strata retail lots at the development.
All three estates are commercial units, that means they are not subjected to added buyer’s stamp duty or seller’s stamp duty. The EOI exercise is set up to seal on April 30 at 3pm.
Found inside Bukit Merah Town Centre, the retail unit take advantage of its distance to a range of services, including a food centre, polyclinic, supermarket, HDB branch office and a selection of retail shops and services.
The very first retail unit, situated in Midpoint Orchard around 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 shopping mall and is currently tenanted to an oral facility. Midpoint Orchard stands inside distance to Somerset MRT Station on the North-South Line and is positioned straight behind a bus stop.
Clemence Lee, managing administrator of capital markets at CBRE Singapore, says 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 income, whilst the one in Bukit Merah offers an ideal operational space for businesses looking for a calculated visibility because area,” he adds.
The second retail unit is located in Parkway Parade, a 22-storey commercial project that comprises a workplace tower and a seven-storey retail shopping center. The shopping mall lies before the Marine Parade MRT Station on the Thomson-East Coast Line.
