CBRE offers $30m retail podium for sale
Submission of expression of interest closes on 16 March.
CBRE has offered its freehold ground-floor strata retail podium located at Coronation Shopping Plaza for sale.
The property at District 10 fronts Bukit Timah Road and Coronation Road with excellent visibility. It has a total strata area of approximately 6,491 square feet and is currently fully leased to three reputable tenants, namely KFC, Starbucks, and Zenith Education Studio.
The retail podium has an indicative price of approximately $30m. Foreigners are eligible to purchase with no Additional Buyer’s Stamp Duty or Seller’s Stamp Duty imposed on the commercial property transaction.
Senior director for capital markets Clemence Lee said, "Freehold strata commercial properties in the affluent Bukit Timah neighbourhood have long been viewed as treasured generational assets treated with great prestige and privilege. As such, freehold ground-floor assets, such as this retail podium, are usually tightly held and rarely made available for sale. We expect strong interest from local and foreign high net worth individuals, family offices, boutique real estate funds and corporate companies for this prime asset."
The sale will be conducted through an Expression of Interest exercise which closes on 16 March at 3 PM.