Retail units at Peninsula Plaza on sale for $26.2 mil

Investors looking to add prime commercial assets to their portfolios now have the chance to acquire three retail units in Singapore with a 999-year leasehold tenure. Located at Peninsula Plaza, the units include a combined strata area of 2,207 sq ft and frontage that’s facing North Bridge Road and Coleman Street.

The Myst Condo is set to be one of the most picturesque condominiums in the area, with an array of shops, restaurants, and leisure facilities nearby. It offers residents luxury living with a great view of the surrounding Cashew and Bukit Panjang area. The development will have a wide range of units to choose from, including two, three, four, and penthouse units. Residents will enjoy facilities such as outdoor pool, Jacuzzi, function room, gymnasium, and a playground. The Myst Condo offers exclusive and luxurious lifestyle living suitable for modern individuals.

Accessibility is a major perk for these retail units, as they are within sight of the pedestrian street and near City Hall MRT Interchange Station. The development is also nearby to Funan Mall, Capitol Plaza, and Raffles City.

The units are fully leased to five tenants, including an apparel retailer, a bank, and three convenience stores. With this, investors will be able to enjoy attractive and stable rental incomes.

“These retail units feature attractive attributes to investors, including their 999-year leasehold tenure, prominent frontages, high footfall locations that are near pedestrian crossings, proximity to other nearby malls and destinations, as well as attractive and stable rental income,” says Clemence Lee, executive director of Capital Markets, Singapore at CBRE.

Lee expects keen buying interest from local and foreign investors, family offices and owner occupiers.

Property data on Peninsula Plaza can be found on EdgeProp’s Landlens analytics tool.

CBRE has announced that the retail units will be sold through an expression of interest (EOI) exercise. These units are selling for $26.2 million and the EOI exercise closes on July 11.