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A ground floor strata commercial space at Coronation Shopping Plaza (pictured) has been launched for sale with a guide price of $35 million, revealed marketing agent Edmund Tie & Company (ET&Co).
Currently tenanted to Starbucks and HSBC Bank, the unit has a strata floor area of about 6,491 sq ft and occupies a prominent corner with direct street level access from the main thoroughfare of Coronation Road and Bukit Timah Road.
The freehold property, which is a short walk to the Tan Kah Kee and Botanic Gardens MRT stations, also enjoys high footfall from surrounding prestigious schools and established residential estates.
Since it is a commercial property, foreigners can purchase it with no Additional Buyer’s Stamp Duty or Seller’s Stamp Duty payable.
“This presents an extremely attractive opportunity for the astute investor to own this exceptional freehold commercial asset which offers strong and stable rental cashflow,” said Swee Shou Fern, ET&Co senior director of investment advisory.
“Given its strategic location attributes, the subject property is also ideal for end users looking to operate their business out of a premise in this established precinct.”
Shop units on the second and third floor of Coronation Plaza have been trading for $3,800 to $4,000 psf in recent years.
The tender for the ground floor unit closes on 18 January.
Photo: ET&Co
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
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