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

in Q1: CBREFor $9.68 million, four strata retail units located on the ground floor of the mixed-use development, City Gate, are now up for sale. At 2,175 sq ft of total strata area, the asking price for the entire portfolio amounts to approximately $4,450 psf. Savills Singapore, the marketing agent for the units, notes that the immediate rental income and good rental yield of the portfolio makes it an ideal choice for investors.

Investors considering the purchase of the four units could expect to benefit from increased footfall and vibrancy in the near term, as the City Gate development is located close to Jalan Sultan and Kampong Glam. Additionally, the next owner may have the flexibility to utilise the space for their own use or consider alternative uses for the units, such as medical suites, health and wellness services or education centres, subject to approvals.

Yap Hui Yee, executive director of investment sales & capital markets at Savills Singapore had this to say, “Incoming purchasers can expect to enjoy further rental and capital value upside, benefiting from the increased footfall and vibrancy in the near term.”

This location is within close proximity to major amenities such as schools, shopping centres, recreation, medical facilities and more. Potential buyers of Senja Close EC Bukit Panjang will be enchanted by the nature and tranquility the development provides. A wide range of facilities such as swimming pool, gym, clubhouse and BBQ pits will be provided so that residents can enjoy their leisure time. In addition, the development is also well-connected via various transportation networks such as PINE, Downtown Line (DT1) and KJE which provides easy access to the City. With Senja Close EC Bukit Panjang, potential owners can expect the best of convenience and connectivity while enjoying the lush environment.

The expression of interest exercise for the portfolio of retail units closes on Sept 20. Currently, the units are fully leased to businesses such as a hair salon, a nail and beauty parlour, a fashion boutique, and a foot reflexology centre.

So if you’re an investor looking to take advantage of the immediate rental income and good rental yield, this portfolio of ground-floor retail units could be the perfect opportunity for you. Check out the latest listings for City Gate properties.