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Portfolio of shophouses and retail units going for $33.3 mil

17 Nov 2020

Portfolio of shophouses and retail units going for $33.3 mil

The portfolio comprises a shophouse on Tras Street (white, in centre), four other shophouses and three retail units.

A pair of freehold shophouses on North Bridge Road is also up for sale. The properties are in the Kampong Glam Historic District and sit on a 2,445 sq ft plot, with a gross floor area (GFA) of 3,876 sq ft. The shophouses have two floors with a mezzanine level, and are also fully tenanted.

Parc Central

Another pair of shophouses on Balestier Road are also available. These freehold properties sit on a 3,890 sq ft site with a GFA of 5,422 sq ft. The properties are zoned for residential and commercial use with a gross plot ratio of 3.0. Under conservation guidelines, it is possible to build up its rear extension by up to six floors with a maximum total GFA of 11,670 sq ft, subject to approvals.
Three adjoining retail units at Bukit Timah Plaza are also available for sale. They have a combined strata area of about 1,322 sq ft. The basement units are beside a FairPrice Finest supermarket and are fully tenanted. Separately, SRI is also marketing a 17,351 sq ft, ground-floor commercial unit at Bukit Timah Plaza. The unit was put up for sale last month for $30 million.
“This portfolio offers an excellent opportunity for investors to acquire an assortment of shophouses and retail shops, located across various districts and providing an excellent diversification strategy,” says Low Choon Sin, managing partner of SRI Capital Market. He adds that there has been a strong acquisition momentum for shophouses in the CBD and city-fringe locations.
Together, the portfolio of properties has achieved an average occupancy rate of about 83%.
The expression of interest exercise for the sale of these properties closes on Jan 5, 2021.
Parc Central Residences EC
Developer: Hoi Hup Sunway Tampines J.V.
Location: Tampines Ave 10
Lot Number: MK28-07545K
District: 18
TOP: Est. Q3 2023
Tenure: 99 Years
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Information updated as at
Sunday, 10 December 2023
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