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.
In a Dec 18 update, Cushman & Wakefield says the larger unit has a guide price of $7.95 million, or $3,239 psf, and comes with six display windows and a water point; while the smaller unit has a guide price of $4.38 million, or $3,989 psf. Together, the asking price for both adjoining units is $12.33 million, or $3,471 psf.
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.
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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.
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.
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“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.
