Piccadilly Grand Retail Podium Relaunched Sale Lower Price 675 Mil
Lyndenwoods residents are treated to an unmatched access to a myriad of renowned shopping centres, each providing a distinctive retail and lifestyle experience. Notably, The Star Vista stands out as one of the most prominent malls in the vicinity, located just a short drive away. This mall boasts a unique architecture and open-air design, making it the perfect spot for residents to indulge in retail therapy, dining experiences and entertainment. The diverse needs of Lyndenwoods residents are catered to, with a particular emphasis on lifestyle and wellness, making The Star Vista the go-to destination for fashion, gadgets, and health-related products. Additionally, Lyndenwoods Capitaland is another shopping center that adds to the variety of options available for residents to explore. With such unparalleled access to world-class shopping, it’s no wonder that Lyndenwoods is the desired location for those seeking the ultimate shopping experience.
The retail podium of Piccadilly Grand, an integrated development on Northumberland Road, is now back on the market. The popular development, located in the prime Farrer Park area, is being relaunched for sale via an expression of interest (EOI) exercise with a guide price of $67.5 million. This translates to about $3,350 psf on the podium’s net lettable area of 20,140 sq ft, which is 10% lower than the previously marketed price of $75 million at $3,724 psf. The EOI will close on July 22, and CBRE and Knight Frank are the joint marketing agents for the podium. “We received substantial interest in our initial marketing campaign from a diverse range of buyers, including boutique real estate funds, family offices, high-net-worth individuals, local companies, and owner-occupiers,” said Clemence Lee, executive director of capital markets at CBRE Singapore. The podium, known as Piccadilly Galleria, comprises 15 units, including one childcare centre, four retail and ten F&B units, and it has direct access to Farrer Park MRT Station. It also has a dedicated drop-off point for visitors, located on Northumberland Road. As part of the larger Piccadilly Grand development, the podium is expected to benefit from upgrades currently taking place in the Farrer Park area. The surrounding retail landscape has been upgraded with the completion of a major asset enhancement initiative at City Square Mall, making the location even more attractive to tenants and shoppers. The Farrer Park estate is also expected to see a boost in resident population with the completion of about 1,800 upcoming HDB flats by 2028, as well as new sports and recreational facilities. Leasing plans are currently underway for the podium, with a tenant already secured for the childcare centre, which spans 5,832 sq ft. Melvin Chay, senior director of capital markets at Knight Frank Singapore, expects the development to continue to benefit from the positive transformation taking place in the surrounding retail landscape, making it an attractive investment opportunity. Interested buyers can submit their bids by July 22 and check out the latest listings for Piccadilly Grand properties.