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Hexacube is a freehold corner development enjoying 70-metre dual frontage along Changi Road and Lorong 105 Changi Road. Photo: Google Street View
A portfolio of 22 retail and food and beverage (F&B) units at Hexacube has been put up for sale via expression of interest (EOI) with a guide price of $43.8 million or around $3,253 per sq ft (psf), revealed joint marketing agents Savills Singapore and CBRE Singapore.
Hexacube is a freehold corner development enjoying 70-metre dual frontage along Changi Road and Lorong 105 Changi Road.
The 22 retail and F&B units are located on the basement level, ground floor and second floor, with a total strata area of around 13,466 sq ft. Of this, about 3,025 sq ft is approved for restaurant or F&B use.
Since the property is approved for ‘Commercial’ use, no Additional Buyer’s Stamp Duty or Seller’s Stamp Duty is payable.
“This is a valued opportunity for purchasers to acquire a sizeable commercial space in an exciting and fast-growing precinct. Pedestrian traffic flow is expected to further increase in 2022 with the completion of 1,399 units Parc Esta, bringing additional demand for retail businesses in Hexacube,” said Galven Tan, Deputy Managing Director, Investment Sales and Capital Markets, Savills Singapore.
Michael Tay, Head of Capital Markets at CBRE Singapore, noted that the $3,253 psf price for the units is considered affordable given its strategic location at the city fringe and freehold tenure.
“The current tenancies at select units will appeal to investors who are seeking an income-producing asset at a palatable quantum. We are optimistic that the flexibility in being able to acquire the units individually or collectively, depending on interested buyers’ business needs, will be a draw as well.”
The EOI exercise for the commercial units closes on 20 October.
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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