Portfolio of seven retail units at Sim Lim Square for sale at $17 mil
/ EdgeProp Singapore |
Sim Lim Square (Picture: Samuel Isaac Chua/The Edge Singapore)
SINGAPORE (EDGEPROP) - A portfolio of seven retail units at Sim Lim Square is up for sale via private treaty with a guide price of $17 million.
The portfolio is zoned for Commercial use under the 2019 URA Master Plan and has an estimated strata floor area of 5,156 sq ft. This means the guide price is $3,297 psf on the strata area. (Find Singapore commercial properties with our commercial directory)
It also has class one entertainment licenses that allow operating hours up to 3 am, says James Wong, head of sales and auction at Huttons Asia, which is marketing the property. He adds that these retail shops are suitable for savvy investors and nightlife business operators who are seeking rental yield or suitable premises to operate.
The units are situated next to a lift lobby that leads directly to the basement car park in the building. They also have private 24-hour air-conditioning, ventilation and exhaust systems, high power infrastructure and floor traps.
Sim Lim Square is located along Rochor Canal Road, next to the Rochor MRT Station on the Downtown Line. It is also within a 10-minute walk to the Little India and Bugis MRT Stations, which also serve as interchanges for the North-East and East-West Lines.
Lee Sze Teck, Huttons Asia’s senior research director, says that the portfolio has a rental yield of approximately 4%. “With a balance master tenancy of more than five years in place, investors can look forward to a long-term stable rental income after acquiring the property,” he adds.
Recent resale transactions at Sim Lim Square show units transacted at prices ranging between $1,858 to $3,603 psf in 2022 (Source: EdgeProp Research tool)
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