By Charlene Chin/ EdgeProp Singapore|January 8, 2020 3:15 PM SGT
Sim Lim Square (Credit: Knight Frank Singapore)
SINGAPORE (EDGEPROP) – A portfolio of 11 retail shops in Sim Lim Square is up for sale at the price of $22 million. The retail shops are prime, central podium-facing units on the fifth floor of the development, says Knight Frank Singapore, the exclusive marketing agent for the properties. The total strata area for all 11 shops is about 5,000 sq ft, with individual unit sizes ranging from 291 to 506 sq ft.
The potential change of use for the fifth-floor units to entertainment outlets could enhance their rental value by at least 20%, says Knight Frank. As the retail shops are zoned for commercial use, the sale is open to locals and foreigners. There will be no additional buyer’s stamp duty and seller’s stamp duty imposed on the purchase of the properties. Sim Lim Square launched its second collective sale attempt on Dec 17 last year with a reserve price of $1.25 billion. The expression of interest exercise will close on Feb 18 at 3pm.
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