The three ground-floor retail units at Peninsula Plaza are on sale for $26.2 mil

Three retail units facing the street located at Peninsula Plaza are going at $26.2 million. As per a release issued by CBRE the sole marketing agent that announced the sale that the properties will be sold via an expression of Interest (EOI) procedure.

These three units of retail are situated on the ground floor and are within view of North Bridge Road and Coleman Street which is accessible to the pedestrian street. The three retail units are comprised of a strata of around 2,207 square feet and the lease is for 999 years and are fully lease to five tenants that include the three convenience store, an apparel store and the bank.

TMW Maxwell latest news from the planned rejuvenation of Tanjong Pagar and the planned developments of the Greater Southern Waterfront precinct.

Peninsula Plaza is an upscale development of 30 floors that includes a five-storey retail platform The remainder comprises an office building. Nearby commercial structures are Funan Mall, Capitol Plaza and Raffles City. The development is located near City Hall MRT Interchange Station.

“The units are attractive for investors, such as their leasehold tenure of 999 years with prominent frontages, top footfall locations close to pedestrian crossings, close to nearby malls and tourist destinations, as an attractive and stable rental income” declares Clemence Lee Clemence Lee, head of Capital Markets, Singapore at CBRE.

Lee says this is a great opportunity for investors to purchase “prime commercial properties with a strong rental demand and the potential for increase in capital”. Lee expects strong interest in purchasing from foreign and local investors family offices, as well as owner occupiers.

The EOI process will end on the 11th of July.