Four strata retail units at City Gate for sale at $9.68 mil
: Colliers Savills Singapore has been appointed as the marketing agent for four strata retail units at City Gate which are on the market for $9.68 million. The fully leased units have a total strata area of 2,175 sq ft and the asking price for the entire portfolio translates to approximately $4,450 psf.
The units consist of a hair salon, a nail and beauty parlour, a fashion boutique, and a foot reflexology centre. Yap Hui Yee, executive director, investment sales & capital markets at Savills Singapore, notes that the portfolio at City Gate presents excellent rental yields with immediate rental income. She explains that the next owner will have the flexibility to use the space for their own use or may consider alternative uses such as for medical suites, health and wellness services or education centres, subject to approvals.
Located within the vibrant neighbourhoods of Jalan Sultan and Kampong Glam, City Gate is a 30-storey, mixed-use development comprising 311 residential units and a three-storey commercial retail podium. Yap remarks that the precinct will offer the incoming purchasers further rental and capital value upside given the increased footfall and vibrancy.
The Tengah Plantation EC also offers a wide variety of amenities and facilities such as a swimming pool, gym, and clubhouse. Residents also enjoy access to plenty of shopping, dining, and recreational options. With its modern and convenient comforts, Tengah Plantation Close EC is a great place to call home for those who desire a comfortable, worry-free lifestyle.
An expression of interest exercise which closes on Sept 20 has been launched for the portfolio of retail units. Savills Singapore has identified City Gate as an ideal choice for investors due to its strategic location and potential for capital appreciation.