The 4,306 sq ft basement unit is currently leased to a Burmese restaurant. According to JLL, the restaurant has recently renewed its lease. (Picture: JLL)
SINGAPORE (EDGEPROP) - A basement restaurant unit at Peninsula Plaza, at 111 North Bridge Road, is on the market for $13 million. The unit is being offered for sale via an expression of interest exercise by the marketing agent, JLL. The indicative price works out to $3,019 psf.
Read also: Two strata offices at Peninsula Plaza up for sale at $10.1 mil
Peninsula Plaza is a 999-year leasehold mixed-use development that comprises a 30-storey commercial block which is divided into a 25-storey office section, a five-storey retail podium and a basement. (Find Singapore commercial properties with our commercial directory)
The 4,306 sq ft basement unit is currently leased to a Burmese restaurant. According to JLL, the restaurant has recently renewed its lease for the entire unit. The unit also features a prominent frontage and has direct escalator access from the street level.
“We expect the restaurant unit to garner keen interest from local investors, high-net-worth individuals, family offices and owner-occupiers, given the rarity of such prime assets with stable rental income and strong potential for capital upside,” says Terry Wong, senior director of capital markets at JLL.
The sale of this property closes on March 10
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