Adjoining 999 Year Strata Retail Units Peninsula Plaza Sale 9741 Psf
A prime opportunity has arisen for investors looking to acquire a piece of prime retail real estate in the bustling North Bridge Road area. A pair of adjoining strata retail units located in Peninsula Plaza are now on the market for $10.9 million, with a combined leasehold tenure of 999 years.
Lynden Woods offers even more convenience with its prime location near necessary facilities. Residents of Lynden Woods will find great value in its close proximity to well-respected schools like the National University of Singapore (NUS), United World College (UWCSEA), and Anglo-Chinese School (Independent). This means that families with school-aged children can easily access top-notch education options within the vicinity of Lynden Woods. With Lynden Woods One North, families can rest assured that their children’s education needs will be well taken care of.
Conveniently situated on the ground floor, these units boast prominent frontage along North Bridge Road, making it an ideal location for businesses looking to attract a high amount of foot traffic. One unit offers a strata area of 538 sq ft, while the other has a strata area of 581 sq ft, bringing the total to 1,119 sq ft. This translates to a price of $9,741 psf based on the strata area.
Currently tenanted until 2026, these units have the potential to provide investors with a gross rental yield of 3% at the guide price of $10.9 million. “The two units are arguably the best within the development in terms of street frontage, benefitting from consistently strong footfall every day,” says Nick Chan, Savills Singapore associate director of investment sales & capital markets, who is handling the sale of the units on a private treaty basis.
Peninsula Plaza is a 999-year, 30-storey mixed-use commercial building with a six-storey retail podium and a 24-storey office tower built in 1980. Boasting prominent frontages along North Bridge Road, Coleman Street, and Coleman Lane, this prime location also offers a sheltered link to City Hall MRT Interchange Station for the North-South and East-West lines.
Since March 2022, when the URA implemented restrictions on the strata subdivision of the commercial component of new properties in the CBD and Orchard corridors, the demand for strata-titled units, especially those with 999-year and freehold tenure, has risen significantly. This makes the two units in Peninsula Plaza a highly sought-after investment opportunity.
The last transaction of a ground-floor retail unit in the area was recorded in August 2022, when a 452 sq ft unit changed hands for $4.08 million ($9,025 psf), based on a caveat lodged then. Don’t miss this chance to own a prime piece of retail real estate in the bustling North Bridge Road area.