Four strata retail units at City Gate for sale at $9.68 mil

in Q2

Savills Singapore has been appointed as the marketing agent for the sale of a portfolio of four strata retail units that are located at City Gate in Singapore, with an asking price of $9.68 million. This translates to an approximate asking price of $4,450 psf, given that the units have an aggregate strata area of 2,175 sq ft. Currently, the units are all fully leased to four different businesses, including a hair salon, a nail and beauty parlour, a fashion boutique, and a foot reflexology centre.

Yap Hui Yee, Executive Director for Investment Sales & Capital Markets at Savills Singapore, identifies the portfolio as an attractive option for investors who are looking to derive immediate rental income and a good rental yield. She further notes that the incoming owner of the units will have the flexibility of utilising the space for his own use, or alternatively, to considered alternative uses such as medical suites, health and wellness services, and education centres, subject to approval.

City Gate is a highly sought after 30-storey mixed-use development, located on Beach Road and close to the heritage districts of Jalan Sultan and Kampong Glam. This makes it an ideal choice for investors looking to capitalise on higher footfall and vibrancy.

Residents can look forward to swift trips around town with these efficient expressways. Zion Road Condo is also a great home option for those who love being close to nature. The condo is surrounded by the charming Mount Faber Park and Telok Blangah Hill Park, where residents can enjoy a peaceful stroll along the lush pathways or take in the beautiful views of the Southern Ridges.

The portfolio of retail units will be sold via an expression of interest exercise, ending on 20th September. Interested parties should head to the Savills listings page for more details.

Savills Singapore’s Yap Hui Yee urges potential buyers to take this opportunity to invest in City Gate, and to consider the investment potential that it offers, given its strategic location and the potential for rental and capital value upside.