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Seven retail spaces at Thomson Plaza are up for sale by public tender for an indicative sale price of S$20 million.
Based on the total gross floor area of 5,102 sq ft, the price translates to S$3,920 per sq ft.
According to PropNex, the marketing agency for the sale, the units are located on the second level of Thomson Plaza and is currently fully leased. The mall’s occupancy rate is also at 100 percent, it added,
“The potential buyer can expect high rental yield returns from this retail space. Besides the upcoming Thomson-East Coast MRT line, there is plenty of development and upgrading in the precinct that will bring about more traffic to this vicinity,” said Ken Bay, associate branch director at PropNex Realty. He noted that there is a potential to apply for subdivision of the title into smaller units for lease or sale, subject to approval from the authorities.
If transacted, this would be the first transaction for large units above 1,000 sq ft in four years, according to the caveat from URA. PropNex added that the last three transactions for units above 1,000 sq ft were closed in 2012 at prices ranging from $2,466 per sq ft to $5,972 per sq ft.
The tender exercise for the retail units will close on 5 December.
Image: Thomson Plaza (Source: Supplied)
Nikki De Guzman, Editor at CommercialGuru, edited this story. To contact her about this or other stories email nikki@propertyguru.com.sg.
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