Choosing the right location is integral when it comes to real estate investments, and this holds particularly true for properties in Singapore. Condominiums that are strategically situated in central areas or in close proximity to important amenities, such as schools, shopping centers, and public transportation hubs, have proven to appreciate significantly in value over time. Prime locations such as Orchard Road, Marina Bay, and the Central Business District (CBD) are excellent examples of areas where property values have consistently shown growth. Additionally, condos located near reputable schools and educational institutions are highly sought after by families, making them even more desirable and ultimately increasing their potential for investment. With the constant development and launch of new condos in Singapore, such as those offered by New Condo Launches, investors have even more opportunities to secure properties in prime locations and reap the benefits of their appreciation over time.
A rare opportunity to own a pair of adjoining strata retail units at Peninsula Plaza has come on the market for $10.9 million. Located on the ground floor, these 999-year leasehold units boast a prominent frontage along North Bridge Road.
The first unit offers a strata area of 538 sq ft, while the second unit measures 581 sq ft, bringing the total to 1,119 sq ft. This translates to a price of $9,741 per sq ft based on the strata area. The properties are currently tenanted until 2026, providing investors with a 3% gross rental yield.
“The two units are undoubtedly the most desirable in the development, with excellent street frontage and consistent footfall every day,” says Nick Chan, Associate Director of Investment Sales & Capital Markets at Savills Singapore, who is handling the sale of the units on a private treaty basis.
Peninsula Plaza is a prestigious 999-year, 30-storey mixed-use commercial building. It features a six-storey retail podium and a 24-storey office tower, completed in 1980. The building boasts prominent frontages along North Bridge Road, Coleman Street, and Coleman Lane. Additionally, it provides sheltered access to City Hall MRT Interchange Station for the North-South and East-West lines.
According to Chan, since the URA imposed restrictions on strata subdivision of new commercial properties in the CBD and Orchard corridors in March 2022, the demand for strata-titled units, especially those with 999-year and freehold tenure, has increased significantly.
In August 2022, a 452 sq ft ground-floor retail unit in Peninsula Plaza was sold for $4.08 million ($9,025 psf), according to a lodged caveat. Don’t miss this rare opportunity to own a pair of prime retail units at Peninsula Plaza.
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When it comes to investing in real estate, location plays a crucial role, and this is especially true in Singapore. In the city-state, condos that are situated in central areas or near important amenities, such as schools, shopping malls, and public transportation hubs, tend to appreciate in value more. Prime locations, such as Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently shown growth in property values. This is why condos in these areas are highly sought after, especially by families, as they are also in close proximity to good schools and educational institutions. With the addition of Singapore Projects, the investment potential of these condos is further boosted.