CBRE has announced the sale of a prime restaurant-approved strata unit located in the basement of Bukit Timah Plaza, Singapore. The unit, which boasts a 20-metre wide frontage and a total strata area of approximately 3,391 square feet, is fully leased, providing immediate rental income for potential buyers.
The sale is being conducted through an Expression of Interest exercise, closing on 19 March 2025 at 3pm.
The unit is strategically positioned next to the entrance of Fairprice Finest, one of the mall’s anchor tenants, enhancing its visibility and potential for high shopper traffic.
Clemence Lee, executive director of Capital Markets at CBRE, highlighted the appeal of suburban retail units, stating, “Prime suburban retail units continue to be an attractive investment asset class for investors, especially those that come with F&B approval.”
Previously listed at S$11m in Q3 2022, the unit’s price has been reduced by approximately 12% to S$9.8m, translating to S$2,890 per square foot. This pricing aligns with recent transactions in the same area of the plaza. Notably, the sale is open to foreign buyers without the imposition of Additional Buyer’s Stamp Duty or Seller’s Stamp Duty.
Bukit Timah Plaza, completed in 1979, is a mixed-use development featuring a retail block and residential units. It is well-connected via major roads and public transport, with nearby MRT stations and bus services. The area is also undergoing significant development, including new projects and a planned integrated development, promising strong rental and capital appreciation prospects for investors.
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