SINGAPORE (EDGEPROP) - A cluster of five adjoining strata shops within the 1,399-unit development of Parc Esta located along Sims Avenue is now on the market for $2 million each.

Each of the five shops has a strata area of 657 sq ft, or around 3,283 sq ft when combined. They have a wide frontage of 6.56m along the main road of Sims Avenue. The development by MCL Land is currently under construction that is scheduled for completion in 1H2022. It is almost sold out with fewer than 10 units left.

“We placed this cluster at the most strategic spot within the development with public visibility and accessibility, as well as the convenience of the residents of Parc Esta, in mind,” says Lee Tong Voon, COO of MCL Land. “The shops are also designed as adjacent modules to provide flexibility for integration for the benefit of larger retailers.”

Karamjit Singh, CEO of Showsuite Consultancy, the firm appointed to market the units, says: “The shops are located directly at the receiving end of the pedestrian light crossing from the Eunos MRT Station and bus interchange. This crossing acts as an important footfall funnel which every commuter from the station would need to use when they head south of the station.”

Singh adds that the shops would be ideal for “grab & go” food and drink outlets, supermarkets, enrichment, and health or wellness centres, that can fetch rents between $9 and $10 per sq ft per month. Given the individual guide price of $2 million each, the gross rental yield can range from of 3.5%–4.0% annually. There is also no additional buyer’s stamp duty for the shop units.

The Expression of Interest exercise closes at 2.30pm on April 28. Interested parties may bid for the shops individually or as a cluster.

Check out the latest listings near Parc Esta, Eunos MRT Station