Savills Singapore, as the sole exclusive marketing agent, is delighted to announce the sale of a pair of adjoining ground floor strata retail units at the iconic Peninsula Plaza, a mixed-use office and retail commercial development located in the heart of Singapore’s vibrant City Hall district.
Savills Singapore, as the sole exclusive marketing agent, is delighted to announce the sale of a pair of adjoining ground floor strata retail units at the iconic Peninsula Plaza, a mixed-use office and retail commercial development located in the heart of Singapore’s vibrant City Hall district.
Peninsula Plaza is a landmark 999-year 30-storey mixed-use development in Singapore’s Civic District, featuring a six-storey retail podium and a 24-storey office tower. With prominent frontages along North Bridge Road, Coleman Street, and Coleman Lane, it boasts excellent connectivity, including a sheltered link to City Hall MRT Interchange.
Its prime City Hall location makes it a vibrant commercial and cultural hub. The retail podium offers a diverse mix of businesses, from popular local and Myanmar F&B outlets to retail and service providers, The office tower houses a broad range of tenants, including corporate firms, law offices, and MNCs. Surrounded by key lifestyle and business destinations such as Funan, Raffles City, and CHIJMES, it is also near esteemed institutions like Singapore Management University and luxury hotels such as The Capitol Kempinski Hotel and Swissotel the Stamford Singapore.
The pair of adjoining units are strategically positioned at the ground floor of the development with high visibility to vehicular traffic along North Bridge Road. Offering a combined strata area of 1,119 sq ft with regular layout and prominent street frontage, this presents an excellent opportunity for businesses seeking an established address or investors looking to capitalise on the strong rental demand.
Mr. Nick Chan, Associate Director, Investment Sales & Capital Markets, Savills Singapore notes, “Strategically positioned along the ground floor of Peninsula Plaza facing North Bridge Road, the two units are arguably the best within the development with prominent frontage. The units benefit from consistently strong footfall every day.
“With URA’s restrictions in strata subdivision for new developments around City Hall and no new strata supply expected in the vicinity, such purchase opportunities have become increasingly scarce and popular. The properties also provide a 3% yield to incoming investors which has become increasingly rare for prime ground floor retail units. The offering provides investors and end-users with a rare chance to secure an immediate foothold in the coveted prime strata retail sector or significantly expand their existing retail holdings.”
The guide price for the pair of retail units is set at $10.9 million. Interested parties are invited to evaluate this exciting opportunity with the flexibility to purchase the strata units individually or collectively as a pair. Both foreigners and companies are eligible to purchase, and no additional buyer’s or seller’s stamp duty will be imposed.
Prospective purchasers are invited to submit their offers by way of Private Treaty.