Sim Lim Square portfolio of seven retail units for sale at $17 mil

Read more: For sale is a two-storey freehold coffee shop along Jalan Besar

Seven retail units in Sim Lim Square is for sale by private treaty , with a suggested price of $17 million.

The property is zoned to Commercial use in the 2018 URA Master Plan. It is estimated to have a strata floor space of 5,156 sq feet. This means that the average price is $3,297 per sq ft for the area of strata.

It also is licensed as a class one entertainment that permit operating hours of up to 3 am, according to James Wong, head of auction and sales of Huttons Asia, which is marketing the property. He also says that these retail stores are ideal for investors who are savvy and business operators looking for an income from rentals or a suitable location to run their business from.

The units are close to an elevator lobby which leads directly to the car park that is located in the basement of the building. They also have 24-hour private cooling ventilators as well as exhaust system, high-power infrastructure, and floor traps.

Sim Lim Square is located on Rochor Canal Road which is next to Rochor MRT Station, which is on the Downtown Line. It’s also 10 minutes walk from The Little India and Bugis MRT Stations that also act in the interchange of both the North-East as well as the East-West Lines.

Lee Sze Teck, Huttons Asia’s senior research director states that the portfolio offers an average rental yield of 4%. “With an outstanding balance master tenancy that is more than five years already in the market investors can anticipate an ongoing stable rental income following the acquisition of this property,” he adds.