Savills Singapore has announced the sale of two adjoining ground floor strata retail units at Peninsula Plaza, a landmark mixed-use development in Singapore’s City Hall district.
The units, which offer a combined strata area of 104.5 square metres, are positioned with high visibility along North Bridge Road, making them an attractive proposition for businesses and investors alike.
Peninsula Plaza, a 999-year leasehold property, is a 30-storey development featuring a six-storey retail podium and a 24-storey office tower. Its strategic location offers excellent connectivity, including a sheltered link to the City Hall MRT Interchange.
The area is a bustling commercial and cultural hub, surrounded by key destinations such as Funan, Raffles City, and CHIJMES.
Nick Chan, Associate Director of Investment Sales & Capital Markets at Savills Singapore, highlighted the units’ prime positioning: “Strategically positioned along the ground floor of Peninsula Plaza facing North Bridge Road, the two units are arguably the best within the development with prominent frontage. The units benefit from consistently strong footfall every day.”
With the Urban Redevelopment Authority’s (URA) restrictions on strata subdivision for new developments in the City Hall area, opportunities like this have become increasingly rare. The properties offer a 3% yield to investors, which is uncommon for prime ground floor retail units.
The guide price for the units is set at £10.9m, and they can be purchased individually or as a pair. Both foreigners and companies are eligible to purchase, with no additional buyer’s or seller’s stamp duty imposed.
Interested parties are invited to submit their offers via Private Treaty.
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