A pair of prime strata retail units at Peninsula Plaza is up for sale via an expression of interest (EOI) exercise, according to exclusive marketing agent Cushman & Wakefield.
The two 999-year units have a combined strata area of approximately 330 sqm and may be purchased individually or collectively. The smaller unit measures approximately 102 sqm, while the larger unit spans approximately 228 sqm, offering flexibility for both investors and owner-occupiers with varying space needs.
Prominently positioned in front of the main escalator of Peninsula Plaza, a landmark mixed-use development in Singapore’s Downtown Core, both units enjoy excellent visibility and strong footfall capture, says Cushman & Wakefield in a Dec 1 press release.
Cushman & Wakefield did not share a guide price for the pair of units up for sale. In November 2023, four adjoining strata commercial units in the basement of Peninsula Plaza were put up for sale at a guide price of $50.8 million by another marketing agent.
The larger unit up for sale features six display windows along Peninsula Plaza’s main facade, providing significant branding and advertising exposure to North Bridge Road, says Cushman & Wakefield.
The two retail units sit opposite City Hall MRT, which serves both the North-South and East-West Lines. Peninsula Plaza is a 30-storey mixed-use commercial building with a six-storey retail podium and a 24-storey office tower. It is situated at the heart of the Civic District, surrounded by major institutions including the Supreme Court, National Gallery Singapore, as well as office and hospitality developments.
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This location benefits from strong weekday and weekend footfall, says Cushman & Wakefield.
There is no Additional Buyer’s Stamp Duty (ABSD) payable on this commercial property. Both foreigners and companies are eligible to purchase.
“The two retail units present a rare opportunity to acquire prime street-facing strata retail space in the Civic District, with MRT connectivity and strong dual catchment from both office and tourist crowds,” says Shaun Poh, executive director, capital markets at Cushman & Wakefield. “With their prime frontage and escalator-facing position, these units are well-suited for retail or lifestyle concepts seeking maximum visibility and footfall.”
The EOI closes on Jan 15 at 3pm.
