Four adjoining units at Peninsula Plaza put on the market with S$60m guide price

FOUR adjoining commercial units at Peninsula Plaza will go up for sale via tender on Thursday (Jul 14), marketing agent PropNex Realty said on Wednesday.

The strata units, which have a combined floor area of 16,038 square feet (sq ft), will be put on the market with a guide price of S$60 million. This works out to S$3,750 per sq ft, PropNex noted. 

The units also have a 999-year lease tenure which started in October 1829. At present, they are fully leased to long-term tenants operating food and beverage and public entertainment businesses.

Located at 111 North Bridge Road, Peninsula Plaza was built in 1979. It is located near malls such as Funan, Capitol Singapore and Raffles City. It is also a 3-minute walk from City Hall MRT interchange station. (*see amendment note)

PropNex head of investment and collective sales Tracy Goh expects strong interest in the portfolio of units as it is rare to find sizeable adjoining strata shop space in the city centre. The owner also enjoys an “attractive” gross rental yield of 3 per cent from existing tenants, she added.

As the 4 units are zoned for commercial use, Singaporeans and foreigners alike will be able to acquire them with no additional buyer’s stamp duty nor seller’s stamp duty payable.

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Portfolio of 23 strata retail shops for sale

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The tender will close on Aug 18 at 2 pm.

*Amendment note: The article has been amended to reflect the correct name of Capitol Singapore.