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DFI puts Jelita Shopping Centre on the market with S$85 million guide price

The group is looking to enter into a long-term leaseback agreement with the prospective buyer

Kalpana Rashiwala

Published Mon, Jun 5, 2023 · 05:50 AM

Commercial & Industrial

DFI Retail Group : D01 0% (DFI) is seeking a buyer for the four-decade-old Jelita Shopping Centre at 293 Holland Road.

It has appointed JLL as the exclusive marketing agent to conduct an expression of interest (EOI) exercise for the two-storey, 999-year leasehold retail mall at the corner of Holland Road and Jalan Jelita.

The guide price is S$85 million, which works out to S$2,528 per square foot (psf) on the existing net lettable area (NLA) of 33,621 square feet (sq ft).

Jelita Shopping Centre is anchored by DFI’s Cold Storage supermarket brand. The outlet, which is open 24 hours a day, occupies the entire ground level of the mall, and spans about 20,000 sq ft.

Tenants on the second floor include Starbucks, Del…