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Commercial space at Coronation Shopping Plaza on sale for S$35m

A PRIME ground-floor strata commercial space at Coronation Shopping Plaza has been put up for sale at a guide price of S$35 million.

The freehold property, which has a strata floor area of around 603 square metres or 6,491 square feet (sq ft), occupies a corner with direct street-level access from the main thoroughfare of Bukit Timah Road and Coronation Road, highlighted sole marketing agent Edmund Tie & Company (ET&Co).

The unit is presently tenanted to HSBC Bank and Starbucks.

Aside from visibility at street level, the shopping mall attracts high footfall from visitors from the surrounding affluent residential estates and schools, ET&Co went on to highlight.

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ET&Co's senior director of investment advisory Swee Shou Fern said: "This presents an extremely attractive opportunity for the astute investor to own this exceptional freehold commercial asset which offers strong and stable rental cash flow. Given its strategic location attributes, the subject property is also ideal for end users looking to operate their business out of a premise in this established precinct."

In recent years, shop units on the second and third storey of Coronation Shopping Plaza have been trading in the price range of about S$3,800 to S$4,000 per sq ft.

The tender exercise will close on Jan 18, 2019 at 12 noon.