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The two Level 4 units at Oxley Tower have a combined strata floor area of about 14,650 sq ft, come with private lift access and a private roof terrace, and can be acquired together or separately. Source: Oxley Tower
Two strata retail units occupying an entire floor at Oxley Tower have been put up for sale via expression of interest with a guide price of $26 million.
This works out to $1,775 per sq ft on a combined strata floor area of about 14,650 sq ft, revealed joint marketing agents CBRE and SRI.
Located on Level 4, both units come with private lift access and a private roof terrace. They also come with food and beverage (F&B) approval and can be acquired individually or collectively.
The marketing agents noted that potential buyers have the flexibility to configure the units to accommodate their business operations.
Clemence Lee, Senior Director of Capital Markets, Singapore at CBRE, said the large outdoor refreshment area and private roof garden “allow the eventual F&B operator to offer unique F&B concepts such as farm-to-table experiential dining within the city”.
“Alternatively, the successful buyer can also consider other uses for the space such as childcare centre, retail, showroom, or office, subject to approval from the relevant authorities,” he added.
Since the property is zoned for “Commercial” use, locals, foreigners and companies are allowed to acquire it with no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) payable.
SRI Capital Market Managing Partner Low Choon Sin said an entire level of strata F&B retail space “is rarely available, especially within the Central Business District (CBD)”.
Oxley Tower is an integrated freehold development located at 138 Robinson Road. It is anchored by retail podiums as well as an office from the fifth to 32nd level.
It is near amenities such as Amoy Street Food Centre and eateries in shophouses within the Tanjong Pagar precinct. The development is also within the vicinity of Tanjong Pagar MRT station as well as the upcoming Shenton Way MRT Station, which is set to be completed in 2022.
The EOI exercise for the strata retail units closes on 29 September.
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Cheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email: cheryl@propertyguru.com.sg.
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