Eight strata-titled shop units at The Interlace, a 99-year leasehold development located at Alexandra Road / Depot Road, have been put up for sale by Knight Frank by Expression of Interest.
The newly completed residential development (pictured) by CapitaLand Singapore Ltd and Hotel Properties Limited in the heart of Singapore’s Southern Ridges is one of the largest residential projects in the city-state – boasting 1,040 units on a site of 869,320 sq ft.
The total strata area for the eight shops is approximately 5,340 sq ft, with individual unit sizes ranging from 388 sq ft to 1,119 sq ft. The shops have regular layouts and are fronting Depot Road.
Mary Sai, Executive Director, Investment (Commercial Sales) for Knight Frank, said: “The indicative price for these shop units is in excess of S$2,500 per sq ft.
“Over the past two years, we have seen strong demand for strata shops especially in mixed developments from both investors and retailers. As long as there is a good critical mass of residents within the development, these shops would have a captive audience and able to provide essential services such as hair salon, bakery, mini-mart etc to these residents.
She added that transactions for strata-titled shops within condominiums have previously ranged from around S$2,000 per sq ft up to S$4,500 per sq ft.
The Expression Of Interest closes at 3pm on November 29, 2013.
Andrew
Batt, International Group Editor of PropertyGuru Group, wrote this
story. To contact him about this or other stories email andrew@propertyguru.com.sg
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