All eight ground-floor strata retail units at Plus, 20 Cecil Street are up for sale at $3.4 million to $6.9 million each.
Together, the asking price of the eight units is just over $37.2 million. The units are available for sale individually or collectively, according to exclusive marketing agent CBRE.
Located in the heart of Singapore’s bustling Central Business District (CBD), Plus is a Grade-A, 28-storey office landmark that features a two-storey retail podium.
Fronting one of Raffles Place’s busiest junctions, these ground floor retail units benefit from exceptional street-level visibility and a consistently high volume of footfall, says CBRE. The retail units seamlessly connect to Raffles Place MRT Station and are also within walking distance to Telok Ayer MRT Station.
Fully-tenanted and ranging between 388 to 807 sq ft, the units come equipped with food and beverage (F&B) provisions, offering investors a versatile and resilient asset in a tightly-held precinct.
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According to CBRE, the versatile layouts allow the units to be reimagined for a variety of high-value retail uses, from trendy F&B outlets and high-end medical clinics to flagship showrooms, subject to the relevant approvals.
As these strata retail units are commercial assets, foreigners are eligible to purchase and there will be no additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD) applicable on the transactions.
Clemence Lee, executive director of capital markets, Singapore at CBRE, says the price of the units “have been reduced to offer an even more attractive entry point for buyers”. “Commanding one of Raffles Place’s most high-profile frontages, these units now provide compelling yield returns of around 3.5% and above.”
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“Ground floor street-fronting retail units are extremely rare and opportunities to purchase them individually are few and far between,” adds Lee. “These units are highly-prized for their rental resilience, underpinned by a strong retail catchment and the high-density footfall of the surrounding office population.”
The sale will be conducted via an expression of interest exercise, which will close at 3pm on April 23.
