The seven units have a total strata area of 3,778 sq ft.
A portfolio of seven strata retail units at IT and electronics mall Sim Lim Square is on the market through an expression of interest (EOI) exercise. A Jan 29 press release by marketing agent Savills Singapore says the units, which are zoned for commercial use, are up for sale individually or collectively. Individual units are priced from $2.2 million onwards, while the entire portfolio has an asking price of $19.46 million.
The seven units are located across levels 1, 2 and 4 of the development. Unit sizes range from 344 to 1,582 sq ft, with the total portfolio comprising 3,778 sq ft of strata area. The units are currently tenanted to retailers of IT consumer supplies.
Sim Lim Square is a commercial development located along Rochor Canal Road. Completed in 1987, it has 492 commercial units spread across six floors and two basement levels. The development has a 99-year leasehold tenure from 1983.
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Map and overview of Sim Lim Square (Source: EdgeProp LandLens)
Sim Lim Square is situated next to the Rochor MRT Station on the Downtown Line. It is also within walking distance of the Little India and Bugis MRT Stations, which serve as interchanges for the North-East and East-West Lines.
The units that are up for sale enjoy high visibility and footfall given their location next to the development’s escalators, says Sophia Lim, director, investment sales and capital markets, at Savills Singapore. She adds that the portfolio offers prospective investors immediate rental income.
Latest commercial transactions at Sim Lim Square (Source: EdgeProp Research)
The EOI exercise for the units will close on March 8 at 12 noon.