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Sim Lim Square, Singapore’s well-known tech shopping mall in Rochor Canal Road was on Monday (April 29, 2019) put up for collective sale via public tender with reserve price of $1.25 billion.
COMMERCIAL ATRIUM FOR SALE
DESCRIPTION
Asking Price S$38,000,000.00 negotiable
Ground floor/ 1st floor
Suitable for Retail or Exhibition Hall
Size: 2,756 sq ft / 256 sqm
REASONS TO PURCHASE
1. Enbloc Potential Returns S$49m
2. High human traffic
3. High Rental Yield 4% ++
4. IT mall located in CBD zone
5. Great for Investment, Foreigners Eligible to buy
FUTURE OPPORTUNITIES
1. Closure of Funan IT mall, Sim Lim Square becomes the only IT mall left in Singapore.
Customer crowds increased tremendously
2. Opening of Downtown Line, Rochor Station,
one of the exits is just beside Sim Lim Square
3. Enbloc Potential
Master Plan 2014 Plot Ratio 4.2.
Only 6 storey sitting on big plot of land.
Surrounding newer buildings such as Burlington
Square, Bencoolen and Albert Complex have same
plot ratio, all are taller than Sim Lim Square.
Nearby The Verge with plot ratio 3.5 was sold
for $317 million recently to Heritage Group, to be
redeveloped into mixed project including a mall and serviced apartments.
Golden Wall Centre with plot ratio 4.2, rolled out on EnBloc Sale asking between $250 - $270 million.
4. Rochor Centre has been acquired for development North-South Expressway (NSE). Residents in Yishun will be able to enjoy much shorter travelling time to City.
ADVANTAGES FOR COMMERCIAL PROPERTIES
Stable rental income.
No restrictions on foreign ownership
No additional buyer Stamp duty
No seller stamp duty
Strata commercial market is currently alive
and well traded
For Enquiry or Viewing Appointments Call:
Wendy Neo *****
*****
