Singapore, 27 September 2022 – Edmund Tie & Company (EDMUND TIE), as the sole marketing agent, is putting up a portfolio of 15 prime commercial units at International Plaza for sale. The sale is conducted by Expression of Interest which will close on 1 November 2022 at 3pm.
International Plaza is a 50-storey mixed-use development strategically located in Singapore’s Central Business District with direct covered access from Tanjong Pagar MRT station.
The portfolio for sale consists of five shops units and ten office units. The total strata area of the 15 commercial units is approximately 18,482 sq ft (1,717 sq m).
The five shop units are located on the ground floor, enjoying high footfall due to their prominent frontage location near the main entrance of International Plaza. The five shops are of sizes ranging from 241 sq ft to 1,421 sq ft, and all are approved for F&B use.
The office component of the portfolio for sale comprises six adjoining units on Level 29 and four adjoining units on Level 33, with sizes ranging from 936 sq ft to 2,336 sq ft.
The guide price for the portfolio is S$60 million. Interested parties have the flexibility to acquire the entire portfolio or individual strata units. As commercial units, there is no Additional Buyer’s Stamp Duty or Seller’s Stamp Duty payable and no restriction on foreign ownership.
Swee Shou Fern (徐晓芬), Head of Investment Advisory at EDMUND TIE, says, “With URA’s recent announcement on the restriction of strata subdivision of commercial developments in Central Area, there is a limited supply of quality strata shop and office space available for sale in CBD. As such, these assets present a rare opportunity for investors, such as family offices, real estate funds, and high-net-worth individuals to acquire prime strata commercial units in CBD and enjoy an immediate and stable source of recurring income.”
“Retail shops at International Plaza, especially units located on the ground floor, are tightly held and rarely available for sale. In the last five years, there were only two shop units on ground floor which changed hands at S$8,759 per square foot and S$7,139 per square foot in 2018 and 2019, respectively,” adds Ms Swee.
For further information contact:
Swee Shou Fern (Ms)
DID: +65 6393 2523
Media please contact:
DID: +65 6393 2510