Retail unit at Q Bay Residences in Tampines for sale at $1.75 mil
/ EdgeProp Singapore |
The unit is tenanted to a Korean taekwondo centre (Photo: SRI)
SINGAPORE (EDGEPROP) - A 753 sq ft strata retail unit at Q Bay Residences, a condo along Tampines Street 86 in District 18, will be put up for auction by SRI on Nov 27. It has a guide price of $1.75 million, which translates to $2,324 psf based on the strata area. SRI had previously put the unit up for auction last month with a guide price of $1.85 million ($2,457 psf) but did not find a buyer.
According to Mok Sze Sze, managing partner of auction and sales at SRI, the unit is an owner’s sale and will be sold with tenancy. It is currently leased to Johan Taekwondo Institute, a Korean taekwondo learning centre, until April 2026.
The retail unit is located within Q Bay Residences, a 630-unit condo on a 99-year leasehold site. It is on the first floor, next to the condo’s drop-off area and visible from the road. It has a glass frontage and a self-contained toilet.
The unit is tenanted to a Korean taekwondo centre (Photo: SRI)
“As the unit is a commercial property, it will not be subject to additional buyer’s stamp duty, and foreigners are eligible to buy, making it ideal for investors,” says Mok.
Q Bay Residences, developed by Far East Organization, Sekisui House and Frasers Property, was completed in 2016. The development consists of eight 16-storey blocks, offering a range of one- to five-bedroom units from 517 sq ft to 2,680 sq ft, along with two retail units. On-site amenities include a convenience store, clubhouse, swimming and spa pools, tennis court, party pavilions and a playground.
Based on caveats lodged, the condo has seen 38 resale transactions to date this year at an average price of $1,414 psf.
The 630-unit Q Bay Residences on Tampines Street 86 (Photo: SRI)
Q Bay Residences is within walking distance of Junyuan Secondary School, Springfield Secondary School and Temasek Polytechnic. It is also located just down the road from The Alps Residences, a 99-year leasehold condo by MCC Land that was completed in 2019 with 626 residences and two retail units.
Caveats lodged show that the retail units, each measuring 689 sq ft, recently changed hands for $2 million ($2,903 psf) and $2.35 million ($3,411 psf) on Oct 28 and Nov 1, respectively.
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