reporter2
28-04-14, 21:31
http://www.businesstimes.com.sg/archive/tuesday/specials/property/orchard-towers-marine-parade-units-sale-20140425
Published April 25, 2014
Orchard Towers, Marine Parade units for sale
By jaira koh
[email protected]
[SINGAPORE] Three commercial units - two in Orchard Towers and one in Marine Parade Central - are up for sale. No indicative prices were provided. Marketing agent CBRE gave sale prices of shops in nearby malls as a guide.
The freehold strata-titled units in Orchard Towers have a total strata area of about 8,105 sq ft and are located at the junction of Orchard Road and Claymore Road. One unit occupies the ground floor and the other the basement, with 7-11 and a food court as their respective anchor tenants. According to CBRE, a third-floor unit sold for $6,636 per sq ft in May last year.
The unit in Marine Parade Central has 62 years remaining on its lease, and spans the entire ground and second floors of Block 87 with a strata area of about 25,833 sq ft. Located between Marine Parade Food centre and Parkway Parade Shopping Centre, anchor tenants for Block 87 include ANZ Bank, Maybank and Standard Chartered.
Ground floor and basement shops in The Flow, along East Coast Road, were sold for between $4,008 and $5,789 per sq ft in the past nine months, said CBRE.
Sammi Lim, CBRE's associate director, investment properties, expects interest from both local and overseas investors "with a mid- to long-term view" looking for units with potential rental and capital appreciation.
The two properties will be sold via an expression of interest, which will close at 3pm on May 30, 2014.
Published April 25, 2014
Orchard Towers, Marine Parade units for sale
By jaira koh
[email protected]
[SINGAPORE] Three commercial units - two in Orchard Towers and one in Marine Parade Central - are up for sale. No indicative prices were provided. Marketing agent CBRE gave sale prices of shops in nearby malls as a guide.
The freehold strata-titled units in Orchard Towers have a total strata area of about 8,105 sq ft and are located at the junction of Orchard Road and Claymore Road. One unit occupies the ground floor and the other the basement, with 7-11 and a food court as their respective anchor tenants. According to CBRE, a third-floor unit sold for $6,636 per sq ft in May last year.
The unit in Marine Parade Central has 62 years remaining on its lease, and spans the entire ground and second floors of Block 87 with a strata area of about 25,833 sq ft. Located between Marine Parade Food centre and Parkway Parade Shopping Centre, anchor tenants for Block 87 include ANZ Bank, Maybank and Standard Chartered.
Ground floor and basement shops in The Flow, along East Coast Road, were sold for between $4,008 and $5,789 per sq ft in the past nine months, said CBRE.
Sammi Lim, CBRE's associate director, investment properties, expects interest from both local and overseas investors "with a mid- to long-term view" looking for units with potential rental and capital appreciation.
The two properties will be sold via an expression of interest, which will close at 3pm on May 30, 2014.