Freehold units at Siglap Shopping Centre for sale at $8.8m

SINGAPORE – CBRE, as the exclusive marketing agent, is pleased to offer for sale via Expression of Interest (EOI), two adjoining freehold ground-floor shop units in Siglap Shopping Centre. With a prominent main road frontage along the bustling East Coast Road, the adjoining ground-floor units enjoy high visibility and benefit from the convenience of a car parking facility located right at their doorstep. The property is currently tenanted to a childcare centre.

Ground floor shop units in Siglap Shopping Centre.

Ground floor shop units in Siglap Shopping Centre. Picture: CBRE

Mr Michael Tay, Senior Executive Director, Capital Markets at CBRE said, “The indicative price is S$8.8 million, which works out to approximately S$2,878 per sq ft based on the combined strata area of 3,057 sq ft. As there will be no Additional Buyers’ Stamp Duty or Sellers’ Stamp Duty, both foreigners and companies are eligible to purchase the property.”

Mr Tay added, “This is a rare opportunity for both investors and end-users to own freehold ground-floor units in the bustling Siglap estate, and at an attractive price. Units on the ground floor are usually tightly held and are seldom made available for sale due to their high visibility and the heavy human traffic flow.”

Keen interest is expected from investors looking to purchase prime freehold units with immediate and stable rental income, as well as owner-occupiers seeking space for own use. Subject to approval from relevant authorities, potential alternative uses – including cafes, healthcare/educational institutions, showrooms, retail shops, fitness centres, home & living, and lifestyle businesses – can be explored.

Nestled within the heart of the bustling residential neighbourhood of Siglap, Siglap Shopping Centre is a three-storey mixed-use development that has approximately 60-metre road frontage along East Coast Road. The development is also located within 10 minutes’ walk to the future Siglap MRT Station slated for completion by 2023.

Surrounded by a delightful mix of quaint commercial shophouses, affluent landed housing and condominium estates, the locality is home to a wealth of retail, F&B and entertainment offerings which are popular with both the local and expatriate communities.

The EOI closes on 30 October 2019, Wednesday at 3 pm.

This article is contributed by CBRE.