Prime commercial space at Coronation Shopping Plaza on sale for S$35m

Prime commercial space at Coronation Shopping Plaza on sale for S$35m

Edmund Tie & Company (ET&Co), as the sole marketing agent, is pleased to offer a prime ground floor strata commercial space at Coronation Shopping Plaza located at Bukit Timah Road for sale by tender.

The prized commercial property enjoys excellent visibility at street level and high footfall of crowd from the surrounding affluent residential estates and prestigious schools. Tan Kah Kee and Botanic Gardens MRT stations are also less than a five-minute walk away.

The subject property has a strata floor area of approximately 603 square metres (sq m) or 6,491 square feet (sq ft), occupying a prominent corner with direct street level access from the main thoroughfare of Bukit Timah Road and Coronation Road.

Senior director of investment advisory Swee Shou Fern commented: “This presents an extremely attractive opportunity for the astute investor to own this exceptional freehold commercial asset which offers strong and stable rental cashflow. The property is currently tenanted to HSBC Bank and Starbucks. Given its strategic location attributes, the subject property is also ideal for end users looking to operate their business out of a premise in this established precinct.”

In recent years, shops units located on the second and third storey of Coronation Shopping Plaza have been trading in the price range of about $3,800 to $4,000 per sq ft.

The guide price for the property is $35m. As a commercial property, foreigners are eligible to purchase it and will not be subjected to any Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD).

The tender exercise will close on Friday, 18 January 2019 at 12 noon.

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