Retail shops at Peninsula Plaza, Sim Lim Square and Far East Plaza for sale at $26.5 mi
At Sim Lim Square, 11 strata units with a total strata area of 5,081 sq ft are offered for sale. Zoned for commercial use, the units are all on the 5th flooring and have a 99-year lease that started in April 1983, leaving about 57 years remaining. According to ERA, most of the units are presently tenanted. The shops face the mall’s main atrium and offer direct access from the escalators and lifts.
Peninsula Plaza is a 30-storey business development done in 1980. It includes a six-story retail podium and a 24-storey business office tower. The growth is linked to the City Hall MRT Interchange Terminal, which provides accessibility to both the North-South and East-West lines.
The EOI will close up on April 17 at 3pm.
Donald Goh, executive of capital markets and financial investment sales at ERA, states the properties will draw in attention from both property clients and businessmen. He notes that strata retail deals in the Downtown Core and Orchard Planning Area remained resilient in 2024, with 28 and 33 transactions documented in each place, respectively. Goh adds: “A ground floor unit at Lucky Plaza was cost $15,242 psf while units at Orchard Towers and The 101 were sold for $5,309 psf and $5,657 psf, respectively, a testament that strata retail shops are still an attractive financial investment.”
The last standing unit available is at Far East Plaza on Scotts Road. Located on the 2nd floor, this freehold retail unit provides a strata level location of 355 sq ft and faces the escalator near the mall’s major entrance. It is marked up at $2.6 million, or $7,324 psf.
Sim Lim Square is a strata-titled commercial project on Rochor Canal Road in District 7. Finished in 1987, it has 492 commercial units spread across six levels and two basement levels.
A list of 14 retail shops at Peninsula Plaza, Sim Lim Square and Far East Plaza is offered for sale via an expression of interest (EOI) exercise. ERA Realty Network is presenting the properties, which have a total price of $26.46 million.
Two units lie at Peninsula Plaza, a 999-year leasehold mixed-use project on North Bridge Roadway. The adjoining ground-floor outlet units have a combined strata area of around 990 sq ft and are requesting for $8 million, or $8,081 psf.
The shops can be acquired collectively or separately. Individual units are valued from $840,000, while the whole profile has an asking rate of $15.855 million, which ERA says is a 20% discount from its newest valuation. The price converts to $3,120 psf on the strata location.
Far East Plaza is a freehold mixed-use development completed in 1982. It comprises a five-storey retail shopping center and serviced apartments. The development is inside walking range of Orchard Road MRT Station.
