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Six strata-titled ground floor retail unit at The Domain have been put up for sale by public tender, CBRE announced Tuesday (11 Aug).
Located along the main intersection of Siglap Road and Upper East Coast Road, the units offer a total strata area of approximately 5.985 sq ft and commands 35.2 percent stake of the 4-storey mixed development’s total share value.
Zoned for commercial use, both local and foreigners are eligible to purchase with no additional buyers’ stamp duty (ABSD) and no sellers’ stamp duty (SSD) imposed on the purchase, CBRE noted,
Sammi Lim, Associate Director for Investment Properties at CBRE said, “This asset offers investors a unique and extremely rare opportunity to acquire an entire retail podium asset in Singapore’s very tightly held strata retail market, and comes with a stable income stream and potential for rental renewal upside.
“Given the strategic location and building popularity as key attributes, the owner will certainly be able to enjoy strong potential capital appreciation of the property, as well as enjoy the benefits of a collective sale potential in the near future. In addition, the six individual strata titles will provide the buyer with an extra flexibility for future exit plans,” she added.
In an enquiry by CommercialGuru, CBRE said the indicative price for this sale is S$23 million and the tender exercise will close on 16 September.
Image: The Domain (Source: CBRE)
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg
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