Archive for category: Misc

People’s Park Complex in Chinatown is a charming mix of retail and office spaces with a 25-storey residential block towering at its centre. Located at the junction of Eu Ton Sen Road and Park Crescent, it is now offering two strata retail units – one on the second level and the other on the fourth level – for sale.Knight Frank Singapore has put up both units for auction on November 16 with indicative guide prices of $1.8 million ($3,982 psf) for the 452 sq ft unit on the second level and $800,000 ($1,653 psf) for the 484 sq ft unit on the fourth level.The units are leased to retail and wellness therapy businesses and the leases are ongoing for the short- to mid-term. They are not subject to additional buyer’s stamp duty (ABSD), goods and services tax (GST) or seller’s stamp duty (SSD).This presents an attractive opportunity for investors who are looking for high rental yields, as the rental yield for People’s Park Complex is 5.8%, significantly higher than other retail neighbours in the 500m radius, such as Havelock2 and Chinatown Point, at 4.6% and 3.4%, respectively.The area is also well-connected, with Chinatown MRT Station right next to the development and Outram Park MRT Station nearby. On top of this, the announcement of the 6,000 residential homes to be built on Pearl’s Hill in Chinatown will bring more footfall to the area and offer higher investment yields to prospective buyers.Tricia Tan, director of auction and sales at Knight Frank Singapore, expects buyers to come from both local and foreign investors, as well as corporate buyers. With neither GST, ABSD nor SSD applicable, this makes the units an attractive investment option.People’s Park Complex boasts an attractive investment offering of two strata retail units up for grabs, with neither additional buyer’s stamp duty (ABSD), goods and services tax (GST) or seller’s stamp duty (SSD) applicable.Knight Frank Singapore is set to auction the two units located on the second and fourth levels of the 99-year leasehold development on November 16, with an indicative guide prices of $1.8 million ($3,982 psf) and $800,000 ($1,653 psf), respectively. Both units are currently leased to retail and wellness therapy businesses for short- to mid-term leases.

Located at the junction of Eu Ton Sen Road and Park Crescent, People’s Park Complex is a popular tourist destination with high footfall due to its unique mix of retail and office spaces with a 25-storey residential block. With the announcement of the additional 6,000 residential homes to be built in nearby Chinatown, there is expected to be an increase in the development’s traffic, thus bringing more business and higher yields to prospective buyers.

Whether investors are locals, foreigners or even corporate buyers, the option of not having GST, ABSD or SSD applicable, coupled with the development’s 5.8% rental yield, significantly higher than other retail neighbours such as Havelock2 and Chinatown Point at 4.6% and 3.4%, respectively, presents an attractive investment opportunity.

This is the second time these two units are up for auction via Knight Frank Singapore, with both being recently purchased last year at $1.45 million ($3,207 psf) and $828,000 ($1,709 psf). This is also reflected in URA sales data from the last 12 months, with People’s Park Complex retail units typically selling for $947 psf on average and an average rental of $4.60 psf pm.

The development is well-connected, with Chinatown MRT Station right next to it and Outram Park MRT Station nearby. Tricia Tan, director of auction and sales at Knight Frank Singapore, believes this provides a “popular tourist destination with high footfall”.

In addition, Bukit Panjang Plaza is home to a huge movie theatre with several popular blockbuster films and IMAX cinema shows.

Residents of Tengah Plantation EC are lucky enough to be close to Bukit Panjang Plaza. This shopping mall is not only filled with a variety of stores and restaurants, but it is also well-known for its family-friendly environment. With its large number of entertainment options, Bukit Panjang Plaza is the perfect place for a day out with the family. So head over to Bukit Panjang Plaza for an enjoyable and comfortable shopping experience.

People’s Park Complex is set to be a great opportunity for prospective buyers and investors looking for a potential en-bloc sale and high rental yields in a well-connected location.