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As the sale covers commercial property, it will be available to locals and foreigners and will not be subject to Seller’s Stamp Duty and Additional Buyer’s Stamp Duty. Photo: Knight Frank
A portfolio of 11 retail shops along Sim Lim Square has been put up for sale by Knight Frank Singapore via Expression of Interest (EOI), for S$22 million.
The shops are located on the 5th floor of Sim Lim Square and have a total strata area of around 5,000 sq ft, with units having sizes from 291 sq ft to 506 sq ft.
Sim Lim Square, a 99-year leasehold IT and electronics mall, is beside Rochor MRT station (on the Downtown Line) and is accessible via Victoria Street, East Coast Parkway (ECP), Rochor Road and the Central Expressway (CTE).
The mall also has frontage along Prinsep Street, Albert Street, Rochor Canal Road and Bencoolen Street.
As the sale covers commercial property, it will be available to locals and foreigners and will not be subject to Seller’s Stamp Duty and Additional Buyer’s Stamp Duty.
“It is a rare opportunity to acquire a portfolio of retail shops in such a highprofile electronics and IT mall. The units, in prime locations facing the central podium, enjoy high footfall and high visibility from the escalators, and are hard to come by,” said Ian Loh, head of investment and capital markets (land, building & collective sales) for Knight Frank Singapore.
“The last 3 transactions for 5th floor podium facing units were sold for more than $5,000 per sq ft. Interested parties will have the flexibility of acquiring the entire portfolio, or as individual units.”
The EOI exercise for the portfolio of 11 Sim Lim Square retail shops ends on 18 February.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg
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