Savills Singapore, as the exclusive sole marketing agent, is pleased to offer for sale, via Expression of Interest (EOI), an entire ground floor commercial podium at TEDGE – a freehold mixed-use development located within the heart of District 15.
Commanding approximately 90 metres of prominent dual road frontage onto Changi Road and Telok Kurau Road, TEDGE is strategically located in an established and affluent residential enclave with ready catchment. The commercial units is located at the first level of the development, while the forty-two residential units is spread across levels two to five, with the penthouses located at the attic level.
The sale offering comprises four adjoining commercial units on the ground floor - two purpose-built Food and Beverage (F&B) units equipped with kitchens, and two shop units, making up a total strata area of approximately 5,576 square foot. The ground floor commercial podium at TEDGE represents a significant stake of approximately 16.06 per cent Share Value in the development and there is generous car parking provision of seven lots at basement level one allocated to the users of the commercial units.
The guide price is in excess of $18 million, approximately $3,228 per square foot. The property is approved as ‘Commercial’ with no additional buyer's stamp duty or seller's stamp duty imposed.
The property is slated for completion by the end of 2022.
Mr Galven Tan (陈威礽), Deputy Managing Director, Investment Sales and Capital Markets, Savills Singapore, said: “The Covid-19 situation has not curbed the appetite of F&B end-users and investors for commercial properties with F&B approvals as the sector is perceived as resilient. We have been receiving strong interest for such properties, especially those in the established and matured residential estates.”
Mr Tan added: “The stretch of Changi Road is an established F&B enclave, with other F&B outlets from the food courts, coffee shops and restaurants which have been there for decades.”
The EOI exercise will close at 3pm on Tuesday, 18 August 2020.