The cosmopolitan city of Singapore boasts a bustling metropolis filled with towering skyscrapers and state-of-the-art facilities. One of the most sought-after residential options are condominiums, strategically located in coveted areas, offering a sophisticated blend of opulence and convenience that caters to both locals and foreigners alike. These residences boast an array of top-notch amenities such as swimming pools, fitness centers, and round-the-clock security services, elevating the standard of living and making them a desirable choice for potential tenants and buyers. As an investor, these attractive features translate into high rental returns and a promising increase in property value over time. For the ultimate experience in luxury living, consider investing in a Singapore Condo.
A pair of adjacent strata retail units at Peninsula Plaza are currently on the market for $10.9 million. The two units, which come with a 999-year leasehold, are located on the ground floor and have prominent frontages along North Bridge Road.The two units’ combined strata area is at 1,119 sq ft, with one unit measuring 538 sq ft and the other at 581 sq ft. Based on the strata area, the asking price works out to be $9,741 psf.As of now, both units are occupied by tenants with leases that are set to expire in 2026. With the asking price of $10.9 million, investors can expect a 3% gross rental yield.Mr. Nick Chan, who is the Associate Director of Investment Sales & Capital Markets at Savills Singapore, notes that these two units are some of the most desirable within Peninsula Plaza. He also adds that these units experience strong footfall daily due to their prime location.AdvertisementPeninsula Plaza, built in 1980, is a 30-storey mixed-use commercial building with a six-storey retail podium and a 24-storey office tower. It has frontages along three roads: North Bridge Road, Coleman Street, and Coleman Lane. One of its key selling points is its sheltered walkway to City Hall MRT Interchange Station for the North-South and East-West lines.Back in August 2022, a ground-floor retail unit with a strata area of 452 sq ft was transacted for $4.08 million ($9,025 psf), according to caveats.Mr. Chan mentions that since March 2022, when the Urban Redevelopment Authority (URA) imposed restrictions on the strata subdivision of commercial properties in the Central Business District (CBD) and Orchard corridors, the demand for strata-titled units has gone up. This demand is especially high for properties with freehold or 999-year leasehold tenures.Peninsula Plaza is a 999-year mixed-use commercial building with a range of amenities, shops, and offices. With its prime location and excellent transportation connectivity, these adjacent retail units are sure to be a lucrative investment.