Savills is pleased to announce the launch for sale by tender a row of prime heartland retail shops in Toa Payoh Central.
Savills is pleased to announce the launch for sale by tender a row of prime heartland retail shops in Toa Payoh Central. Savills is the exclusive appointed marketing agent.
The subject property is located next to the HDB Hub at Toa Payoh Central - HDB’s second satellite town and home to more than 109,000 residents. The HDB Hub is the only retail centre in Toa Payoh serving the residents there. It is also strategically located near the exit points from the Pan Island Expressway connecting Toa Payoh to other parts of the island. Being integrated with Toa Payoh MRT station and bus interchange ensures a seamless flow of human traffic.
The subject property has a strata area of about 5,780 sq ft with a remaining lease of about 57 years from its lessor - the Housing and Development Board. It counts popular and established brands like Watsons, Hang Ten, Starhub and Hock Hua as its tenants. The subject property also enjoys patronage from office workers of the surrounding commercial and industrial buildings.
’’Prime HDB retail shop lots are a rarity especially in Toa Payoh which is one of the most populous and centrally located housing estates in Singapore. Additionally, this space is located along the best stretch of shops there. The defensive nature of this investment also bodes well for the current volatile investment climate. As such, we expect keen interest and immense competition for the property due to its location and rarity.’’ says Mr Steven Ming, Managing Director of Savills Singapore.
The tender closes on the 12 August 2014 at 3pm.