A pair of adjoining strata retail units at Peninsula Plaza are on the market for $10.9 million. The 999-year leasehold units are on the ground floor and have prominent frontage along North Bridge Road.

The strata area of one unit is 538 sq ft, and the other is 581 sq ft, bringing the total to 1,119 sq ft. Hence, the $10.9 million asking price translates to $9,741 psf based on the strata area.

The properties are currently tenanted until 2026. At the guide price of $10.9 million, they provide investors with a 3% gross rental yield.

Read also: Bukit Timah Plaza strata restaurant unit for sale at $9.8 mil, after 12% price cut

“The two units are arguably the best within the development in terms of street frontage, benefitting from consistently strong footfall every day,” says Nick Chan, Savills Singapore associate director of investment sales & capital markets, who is handling the sale of the units on a private treaty basis.

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The last transaction of a ground-floor retail unit was in August 2022, when a 452 sq ft unit changed hands for $4.08 million ($9,025 psf), based on a caveat lodged then.

Peninsula Plaza is a 999-year, 30-storey mixed-use commercial building with a six-storey retail podium and a 24-storey office tower built in 1980. It has prominent frontages along North Bridge Road, Coleman Street and Coleman Lane. It has a sheltered link to City Hall MRT Interchange Station for the North-South and East-West lines.

Since March 2022, when the URA restricted the strata subdivision of the commercial component of new properties in the CBD and Orchard corridors, Savills' Chan says strata-titled units, especially those with 999-year and freehold tenure, have become more sought-after.

Check out the latest listings for Peninsula Plaza properties

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