31 commercial units at Midpoint Orchard for sale at $281 mil
/ EdgeProp Singapore |
The units for sale are located across multiple floors and occupy an estimated floor area totalling 22,615 sq ft (Picture: Huttons Asia)
A portfolio comprising 31 strata commercial units at Midpoint Orchard, a shopping mall along Orchard Road, is on the market through an expression of interest (EOI) exercise. The freehold units, which are to be sold collectively, are priced at $281 million.
The units are held under 31 individual strata lots located on multiple floors at Midpoint Orchard. The portfolio has an estimated floor area totalling 22,615 sq ft, according to marketing agent Huttons Asia.
Map and overview of Midpoint Orchard (Source: EdgeProp LandLens)
The units are regular in shape and include lots that are adjoining. Subject to approval from the Management Corporation Strata Title and relevant others, the new owner could potentially explore using the units for F&B ventures such as a buffet restaurant, food court and fast-food outlets, says Aric Lim, district director at Huttons Asia.
Lee Sze Teck, Huttons’ senior director of data analytics, points out that given their commercial zoning, no additional buyer’s stamp duty or seller’s stamp duty will be payable on the portfolio. “Investors who want to capitalise on the transformation of Orchard Road can consider this freehold portfolio which is seldom available,” he adds.
Recent transactions at Midpoint Orchard (Source: EdgeProp Research)
The EOI exercise for the portfolio will close on Feb 28.
Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp FacebookSubscribe to our newsletter
Top Articles
Search Articles