Two F&B strata retail units at East Village to be sold from $10.4 mil collectively, or $5.3 mil each
By Timothy Tay
/ EdgeProp Singapore |
The two freehold units have a strata area of 969 sq ft each. (Picture: Savills Singapore)
SINGAPORE (EDGEPROP) - Two strata retail units at East Village in Bedok are on the market for $10.4 million. In a press release announcing the sale, Savills Singapore, the marketing agent, says that the units can be purchased individually or as a pair. The guide price for a unit is $5.3 million.
The adjacent ground floor units come with full F&B approval and are located beside the mall’s entrance. Only 12 of the 108 retail units at East Village have F&B approval, says Savills.
The units will be sold with existing tenancies with dedicated entrances that allow tenants the flexibility to operate outside of the mall’s official operating hours. Each unit has a strata area of 969 sq ft that includes an en suite bathroom.
East Village is a freehold shopping mall on Upper Changi Road. The mall was completed in 2014 and is a four-storey mixed-use development with 108 shops on the ground floor and 90 apartments on the upper floors. There is a basement carpark as well as a neighbouring open-air carpark.
Transactional analysis and relevant investment information about East Village can be found on EdgeProp's Landlens tool. (Map: EdgeProp Singapore)
Yap Hui Yee, executive director, investment sales & capital markets at Savills Singapore, says: “Within the Bedok-Upper Changi locale, there are only three strata-titled malls: East Village, Bedok Shopping Complex and Eastwood Centre. East Village, completed in 2014 and offering a freehold tenure, stands out as the newest development.”
She adds, “Given the palatable quantum and scarcity of freehold tenure in this desirable Bedok locale, these two prime units at East Village presents an enticing opportunity for investors to acquire for their portfolio.”
She expects strong buying interest for the two strata units to come from investors and end-users. The units will be offered through an expression of interest exercise that closes on July 20.
Check out the latest listings near East Village, Bedok Shopping Complex, Eastwood Centre, East Village
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