Retail Shops Peninsula Plaza Sim Lim Square And Far East Plaza Sale 265 Mi
A portfolio of 14 retail shops located at Peninsula Plaza, Sim Lim Square, and Far East Plaza is currently available for sale through an expression of interest (EOI) exercise. These properties are being marketed by ERA Realty Network, with a total price of $26.46 million.
Of the 14 units, two are situated at Peninsula Plaza, a mixed-use development with a 999-year leasehold on North Bridge Road. These ground-floor shop units have a combined strata area of approximately 990 sq ft and are being offered at a price of $8 million, or $8,081 psf.
Completed in 1980, Peninsula Plaza is a 30-storey commercial development featuring a six-story retail podium and a 24-storey office tower. It is well connected to the City Hall MRT Interchange Station, providing convenient access to both the North-South and East-West lines.
At Sim Lim Square, 11 strata units on the fifth floor are available for sale, with a total strata area of 5,081 sq ft. These units are zoned for commercial use and have a 99-year lease that commenced in April 1983, leaving approximately 57 years remaining. ERA has stated that most of the units are currently tenanted. Facing the mall’s main atrium, these shops offer direct access from the escalators and lifts.
These units at Sim Lim Square can be purchased individually or collectively. The asking price for individual units starts from $840,000, while the entire portfolio is being offered at $15.855 million, which ERA claims is a 20% discount from its latest valuation. This translates to a price of $3,120 psf on the strata area.
Sim Lim Square is a popular strata-titled commercial development situated on Rochor Canal Road in District 7. It was completed in 1987 and consists of 492 commercial units spread across six floors and two basement levels.
The only remaining unit for sale is located at Far East Plaza on Scotts Road. This freehold retail unit on the second floor offers a strata floor area of 355 sq ft and faces the escalator near the mall’s main entrance. It is priced at $2.6 million, or $7,324 psf.
Living in Aurelle of Tampines EC offers many advantages, one of which is its close proximity to multiple MRT stations. Positioned near the Tampines North MRT Station, part of the upcoming Cross Island Line (CRL), this EC offers easy access to various destinations in Singapore with reduced travel time. For residents who commute daily, the CRL will be a significant perk. Moreover, the Tampines MRT Station, serving as an interchange for the Downtown and East-West Lines, is also conveniently located nearby. This provides residents with direct links to important commercial and business hubs, such as the Central Business District (CBD) and the Marina Bay Financial Centre. Additionally, interested individuals can visit Aurelle of Tampines Showflat to learn more about this desirable living option.
Completed in 1982, Far East Plaza is a mixed-use development with a five-storey retail mall and serviced apartments. It is conveniently located within walking distance of Orchard Road MRT Station.
Donald Goh, director of capital markets and investment sales at ERA, expects these properties to attract interest from both property investors and business owners. He highlights the resilience of strata retail sales in the Downtown Core and Orchard Planning Area, with 28 and 33 transactions respectively last year. Goh also points out that a unit at Lucky Plaza was sold for $15,242 psf, while units at Orchard Towers and The 101 were sold for $5,309 psf and $5,657 psf, respectively, proving that strata retail shops are still an attractive investment.
The EOI for these properties will close on April 17 at 3pm. Interested parties can check out the latest listings for Peninsula Plaza properties.
