>

>

33 retail units at Parklane Shopping Mall for sale at $55.7 mil

By Charlene Chin

/ EdgeProp Singapore |

August 22, 2019 2:52 PM SGT

Thirty-three strata retail units at Parklane Shopping Mall are up for sale at $55.7 million ($2,200 psf), announced Colliers International, the marketing agent for the property.

The property for sale, on Basement 1, spans 25,317 sq ft, with units ranging from 248 to 2,002 sq ft. The units are near the stairway that leads directly to the main entrance of Parklane Shopping Mall. Each unit has a 99-year lease, with effect from Dec 1, 1974.

All retail units are currently tenanted. Tenants include McDonald’s, Comics World and cyber gaming cafes. Of the 33 retail units, the tenancy lease for 14 units will be expiring in 2020. “Investors may consider an upward revision of rents upon expiry of the existing lease and yield a higher return,” says Colliers.

Parklane Shopping Mall is in the Bras Basah/ Bugis arts and cultural precinct. This is also where tertiary education institutions, such as Singapore Management University, LASALLE School of the Arts, and the School of the Arts, are located.

The mall is also within walking distance to four MRT stations: Rochor and Bencoolen Stations on the Downtown Line; Bras Basah Station on the Circle Line; and Dhoby Ghaut Interchange Station, which connects the North-East Line, North-South Line and the Circle Line.

Foreigners are eligible to purchase the retail units. Additional buyer’s stamp duty and seller’s stamp duty are not applicable.

The expression of interest exercise will close at 3pm on Sept 26.

For price trends, recent transactions, other project info, check out the Parklane Shopping Mall project details page

Read also:

Malls turn to experiential retail amid e-commerce competition

Singapore retail rents remain weak in 1H2019

Singapore residential, office and retail markets face headwinds on slow growth

Check out the latest listings near Parklane Shopping Mall, MRT Stations and Schools

Tags:

parklane shopping mall retail Colliers International Singapore Management University Bras Basah Station Dhoby Ghaut Interchange Station foreigner buyers

Follow Us

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Perennial Holdings and Far East Organization unveil Golden Mile Singapore, and will launch the strata commercial units this month

2

Government ramps up private housing supply; offers three EC sites on Confirmed List

3

Novo Place hits 88.1% as 137 units snapped up in second balloting

4

Project Spotlight: This condo in Ang Mo Kio has 241 profitable and no unprofitable transactions

5

What’s next for Bayshore

Our Site

Follow Us

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

View More

Close Ad

00:00