Two freehold ground-floor units with F&B potential located at mixed-use development Alexis in Alexandra Road are up for sale at an indicative price of S$10 million, said marketing agent CBRE on Thursday.
This works out to approximately S$3,259 per square foot (sq ft) based on the units’ strata area. To be sold on vacant possession basis, the two shop units have a total gross floor area of 3,068 sq ft.
There will be no additional buyers’ stamp duty or sellers’ stamp duty imposed and the offer is open to locals, foreigners and companies.
Located at 356 Alexandra Road, Alexis is a six-storey development comprising 21 commercial units and 293 apartments as well as a public basement car park. The units for sale also have prominent dual main road visibility along Alexandra Road and Commonwealth Avenue.
In addition, the two shop units are located within 550 metres from Queenstown MRT Station via a sheltered walkway. Other commercial units at Alexis include enrichment centres, medical clinics, as well as various mom-and-pop shops. Nearby landmarks include IKEA Alexandra, Anchorpoint Shopping Centre and Park Hotel Alexandra.
Michael Tay, CBRE senior executive director, capital markets, said the subject property’s attributes make it an enticing offer to both investors and end-users.
This will allow the buyer to explore many possible uses such as a food court, restaurant, cafe, fast-food chain, healthcare and education institutions –subject to approval from relevant authorities.
“The indicative psf price of S$3,259 is also attractive, when compared to the last ground-floor unit transaction at Alexis that changed hands at S$4,452 psf four years ago,” Mr Tay said.
The subject property is also poised to benefit further from the scheduled completion of several nearby condominiums in the next three years and the planned 5,000 new public homes in Queenstown by 2027, he added.