The only shop space on the ground floor of Sim Lim Square (pictured) is up for sale by expression of interest (EOI), said marketing agent CBRE.
With a strata area of around 2,756 sq ft, the unit attracts a high volume of shoppers due to its open concept, with escalators and lifts just next to it.
Located at the junction of Bencoolen Street and Rochor Canal Road, Sim Lim Square is Singapore’s largest electronics and computer hub.
It is sited within the established Bugis commercial cum residential enclave and is close to various landmarks including Burlington Square, Bugis Junction, Bugis+ and the future DUO integrated development.
The upcoming Rochor MRT station along the Downtown Line is also conveniently situated right at its doorstep.
“Very few shopping mall developments in Singapore offer such a space,” said Sammi Lim, Associate Director, Investment Properties at CBRE.
Being the only atrium shop available for sale on the ground floor, the property is expected to attract strong interest with offers in excess of S$48 million.
“The space will likely attract private-equity, family offices and high-net-worth individuals, both local and overseas, who are looking for quality assets like shops in Sim Lim Square for potential rental and capital appreciation with a mid to long term view. The property will also attract a growing pool of end-user purchasers,” Lim noted.
Both locals and foreigners are eligible to buy the property considering that shops at Sim Lim Square are zoned commercial. No additional buyer’s stamp duty (ABSD) will be imposed on the property purchase.
The EOI exercise closes on 22 January 2014.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
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