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Located on the 5th floor of Sim Lim Square, the prime, central podium facing units have a total strata area of around 5,080 sq ft. Unit sizes range between 291 sq ft and 506 sq ft. Photo: Knight Frank
A portfolio of 11 retail shops at Sim Lim Square has been put up for sale via expression of interest (EOI), with a guide price of $21 million or $4,134 per sq ft (psf), revealed marketing agent Knight Frank.
They were previously put on the market in January, carrying a slightly higher price of $22 million.
Located on the 5th floor of Sim Lim Square, the prime, central podium facing units have a total strata area of around 5,080 sq ft. Unit sizes range between 291 sq ft and 506 sq ft.
Since the units are on a commercial property, both locals and foreigners can acquire them, with no Additional Buyer’s Stamp Duty (ABSD) payable.
The 99-year leasehold Sim Lim Square is located beside Rochor MRT station on the Downtown Line and enjoys street frontage along Bencoolen Street, Rochor Canal Road, Prinsep Street and Albert Street.
“Sim Lim Square has always been synonymous with electronic goods and IT services, and continues to draw a niche crowd that loves its unique charm and stature. In spite of the changing technological landscape that has brought consumers online, there is still no beating the touch and feel of items at a live marketplace, where consumers know will offer competitive prices,” said Ian Loh, Head of Capital Markets (Land & Building, Collective & Strata Sales) at Knight Frank Singapore.
“The prime location of the units offered are hard to come by, with the last transaction for 5th floor, podium facing units going for more than S$5,300 psf in April 2020.”
He noted that interested parties can acquire the units individually or as an entire portfolio.
The EOI exercise for the retail units closes on 25 August.
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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg