Prime commercial spaces put up for sale

A total of nine commercial units, all with attractive amenities nearby, were offered for sale yesterday at three prime locations across Singapore.

Seven of the units, with a total of 5,102 sq ft of space, are on the second floor of Thomson Plaza. They are up for tender with an indicative price of about $20 million. This works out out to be $3,920 per sq ft (psf), said its sales agent PropNex Realty.

Mr Ken Bay, associate branch director of PropNex Realty, said: "Besides the upcoming Thomson-East Coast MRT line, there is plenty of development and upgrading in the precinct that will bring about more traffic to this vicinity."

The units are currently leased to two fast food restaurants and a dental clinic. PropNex Realty said the tender exercise will close on Dec 5.

The other two properties are being marketed by Savills Singapore in sales by expression of interest.

The sole marketing agent said the indicative sale price for one property at 134 Jurong Gateway is $18 million, which translated to $3,750 psf based on a strata area of 4,800 sq ft.

It is currently an air-conditioned coffee shop.

The amenities in the vicinity include the Jurong Regional Library and CPF Jurong Building, and the marketing agent said prospects in Jurong Lake District - where the Singapore-Malaysia High Speed Rail terminus will be sited - are bright.

"With plans to transform the Jurong Lake District and Jurong Gateway into a vibrant commercial hub with a blend of mixed residential and commercial activities, the area is slated for exciting new growth," said Mr Philip Ng, Savills Singapore's associate director for investment sales.

The second property being offered for sale by Savills Singapore is at 744 Bedok Reservoir Road. It also comes with a 722 sq ft three-room flat on the second storey that can be accessed separately. The property has a guide price of $12 million, or about $3,157.9 psf - based on a strata area of 3,800 sq ft, including the second floor flat.

The F&B space is currently leased to McDonald's.

Savills Singapore said interested buyers can purchase both properties together or separately. The expression of interest closes on Nov 30 at 3pm.

A version of this article appeared in the print edition of The Straits Times on November 03, 2016, with the headline 'Prime commercial spaces put up for sale'. Print Edition | Subscribe