Retail Shops Peninsula Plaza Sim Lim Square And Far East Plaza Sale 265 Mi
ERA Realty Network is currently offering an exciting investment opportunity in three popular retail hubs in Singapore – Peninsula Plaza, Sim Lim Square, and Far East Plaza. The collection, consisting of 14 retail shops, is being marketed through an expression of interest (EOI) exercise. The total price for this portfolio is $26.46 million.
Two of the units are located in the 999-year leasehold mixed-use development, Peninsula Plaza. These adjoining ground-floor shop units have a combined strata area of approximately 990 sq ft and are priced at $8 million, or $8,081 psf. Peninsula Plaza is a well-known 30-storey commercial development that was completed in 1980. It consists of a six-story retail podium and a 24-storey office tower, and is conveniently connected to the City Hall MRT Interchange Station, providing easy access to both the North-South and East-West lines.
At Sim Lim Square, there are 11 strata units on the fifth floor, with a total strata area of 5,081 sq ft. These units, which are zoned for commercial use, come with a 99-year lease that started in April 1983, and therefore has approximately 57 years remaining. ERA reports that most of the units are currently tenanted and face the mall’s main atrium, with direct access from the escalators and lifts. These units can be purchased individually or collectively, with prices starting from $840,000 for individual units and $15.855 million for the entire portfolio. This translates to a price of $3,120 psf on the strata area, which ERA states is a 20% discount from its latest valuation. Sim Lim Square is a renowned strata-titled commercial development on Rochor Canal Road, featuring 492 commercial units over six floors and two basement levels.
Lastly, there is one retail unit available at Far East Plaza on Scotts Road. This freehold unit is located on the second floor and boasts a strata floor area of 355 sq ft. It faces the escalator near the mall’s main entrance and is priced at $2.6 million, or $7,324 psf. Far East Plaza is another popular mixed-use development, completed in 1982, which comprises of a five-storey retail mall and serviced apartments. It is within walking distance of Orchard Road MRT Station.
According to Donald Goh, director of capital markets and investment sales at ERA, these properties are expected to attract interest from both property investors and business owners. Goh also notes that last year saw a strong market for strata retail sales in the Downtown Core and Orchard Planning Area, with 28 and 33 deals recorded respectively. He mentions that the impressive sale prices of $15,242 psf, $5,309 psf, and $5,657 psf for a ground floor unit at Lucky Plaza, units at Orchard Towers, and The 101 respectively, show that strata retail shops continue to be a lucrative investment choice.
The EOI for this collection of 14 retail shops will close on April 17 at 3pm. Don’t miss the opportunity to own a piece of these prime commercial properties in Singapore. Check out the latest listings for Peninsula Plaza properties today.
