Industrial property, 9 retail units for sale

The nine retail units for sale are in Holland Road Shopping Centre (above) while the industrial unit is at 211 Henderson Road.
The nine retail units for sale are in Holland Road Shopping Centre (above) while the industrial unit is at 211 Henderson Road. BH FILE PHOTO

Buyers looking for coveted freehold property can add CBRE's new offerings in Holland Road Shopping Centre and the 211 Henderson Road building in Bukit Merah to the list.

Nine strata-titled retail units in Holland Road Shopping Centre and an industrial unit at 211 Henderson Road are up for sale through a public tender, said consultancy CBRE yesterday.

The second-floor units in the shopping centre, which has four floors, range from about 237 sq ft to about 732 sq ft.

Ms Sammi Lim, CBRE director of investment properties, said the guide price starts from $1.09 million for the smallest unit.

CBRE said in a statement: "Offered for sale on a vacant possession basis, the units will appeal strongly to end users who have been on the lookout for shops to purchase and operate. For investors, the freehold status and potential yield return are key attractions."

Holland Road Shopping Centre, which houses anchor tenants such as Cold Storage and United Overseas Bank, is near Holland Village MRT station.

Ms Lim said: "Assets in Holland Village are always very tightly held and it is extremely rare for any to be available for sale.

"Holland Village is widely regarded as a successful enclave, and the purchaser is expected to benefit greatly from its fast-evolving development and continued rejuvenation."

The freehold industrial unit at 211 Henderson Road has a strata area of about 4,962 sq ft and will be sold with vacant possession. The guide price is $650 per sq ft.

Ms Lim said two units on the second floor of nearby Henderson Industrial Park were recently sold for $733 psf and $735 psf, so "this price will certainly be attractive to buyers".

She said the unit is suitable for businesses that involve printing, photocopying, photographic film processing, packing and storage, or commercial laundry, for instance.

CBRE said: "Buyers have the option to purchase units on an individual basis, or all the nine retail units and one industrial unit under an entire portfolio."

Rachael Boon

A version of this article appeared in the print edition of The Straits Times on July 08, 2016, with the headline 'Industrial property, 9 retail units for sale'. Print Edition | Subscribe