31 Midpoint Orchard units up for sale at S$281 million guide price 

THIRTY-ONE freehold commercial units at Midpoint Orchard are up for sale, at a guide price of S$281 million.

The strata-titled units are being sold collectively by individual owners and companies, Huttons Asia, which has been appointed for the sale, said on Tuesday (Jan 23). 

The total estimated floor area of the units spans 22,614.95 square feet, which translates to a per square foot (psf) pricing of around S$12,425. The units are located on various levels of the mall and are approved for retail use. 

In 2022, Midpoint Orchard attempted a third collective sale at around S$350 million, The Straits Times reported.

Some of the owners in the 59 strata unit mall had wanted to cash out, but others were not keen.

In December 2023, two adjacent strata-titled units on the second storey of Orchard Plaza nearby were sold. The larger unit was sold at S$2,246 psf for S$7.3 million, and the smaller unit was sold at S$3,694 psf for S$874,666. 

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Among strata-titled malls in Orchard Road, Lucky Plaza has seen some of the highest transacted prices. A fourth-floor unit changed hands in September 2023 at S$7,061 psf for S$1.29 million, while a third-floor space sold in March 2023 at S$7,432 psf for S$2 million. Prices peaked in 2021 with two deals at over S$20,000 psf. 

Aric Lim, a district director at Huttons Asia, said the units at Midpoint Orchard are regular in shape and adjoining units may be combined for maximum efficiency.

He added: “The new owner can explore different food and beverage possibilities such as a buffet restaurant, a food court, or fast food outlets, subject to approval by the Midpoint Orchard Management Corporation Strata Title and relevant authorities.”

Lee Sze Teck, senior director of data analytics at Huttons Asia, said that no Additional Buyer’s Stamp Duty will apply as the units are for commercial use. 

“Investors who want to capitalise on the transformation of Orchard Road can consider this freehold portfolio which is seldom available,” he noted.

Interest has ignited in Orchard Road recently, with several malls up for sale or exploring deals.

Early in January, Wharf Estates Singapore put the freehold retail podium at Scotts Square on the market at a guide price of S$450 million, or S$3,438 psf per plot ratio (ppr). This came three months after a deal was struck to sell Far East Shopping Centre for about S$910 million, subject to conditions, to a company linked to Chinese businessman Du Shuanghua.

In 2022, Tanglin Shopping Centre was sold for S$868 million or S$2,769 psf ppr to Pacific Eagle Real Estate, a Singapore-based real estate investor and developer privately held by the Tanoto family.

The expression of interest exercise for Midpoint Orchard’s units will close on Feb 28.