11 units in Singapore Shopping Centre up for sale

A row of 11 strata units in Singapore Shopping Centre (SSC) along Orchard Road has been put for sale by expression of interest.

The units cover 7,061 square feet (sq ft) of shop/office space and make up close to half of the third floor in the mall.

SSC is a seven-storey commercial development with a basement carpark located at 190 Clemenceau Avenue.

In a statement on Tuesday (Jun 2), its marketing agent CBRE said the units have a guide price of S$12.7 million or about S$1,800 per square foot (psf).

CBRE’s Associate Director for Investment Properties, Sammi Lim, said: “The passing rent paid by the previous single tenant who occupied all the 11 units was S$7.20 psf, which gave an attractive gross rental yield of 4.80 per cent. Further rental yield upside can be expected by leasing out the units individually.”

The latest transaction in SSC was for a 248 sq ft shop on the third floor, which sold for S$1,858 psf in September 2013.

CBRE said the expression of interest for the property will close on Jul 14.

Source : Channel NewsAsia – 2 Jun 2015

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