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

$9.68 million worth of strata retail units at City Gate is now on the market. Savills Singapore has been appointed as the marketing agent for the portfolio, which has a total strata area of 2,175 sq ft.Comprised of four units located on the ground floor of the mixed-use development, the asking price for the entire portfolio translates to approximately $4,450 psf. These units are currently fully leased to a variety of businesses, such as a hair salon, a nail and beauty parlour, a fashion boutique, and a foot reflexology centre.Yap Hui Yee, executive director of Investment Sales & Capital Markets at Savills Singapore, states that the portfolio at City Gate offers immediate rental income and a good rental yield. Furthermore, it gives the next owner the flexibility to utilize the space for their own use, or perhaps look into alternative uses – such as medical suites, health and wellness services or education centers – subject to approvals.Located on Beach Road, the 30-storey City Gate development consists of 311 residential units and a three-storey commercial retail podium. It is placed near various popular heritage neighbourhoods, such as Jalan Sultan and Kampong Glam, making it a strategic choice for investors. Yap adds that the increased footfall and vibrancy in the near term can potentially generate further rental and capital value upside for its new owner.The portfolio of retail units will be sold in an expression of interest exercise that closes on September 20.Savills Singapore is offering an excellent opportunity to purchase $9.68 million worth of strata retail units at City Gate. The portfolio comprises of four units located on the ground floor of the mixed-use development, with a total strata area of 2,175 sq ft. All of the units are leased to a variety of businesses – including a hair salon, a nail and beauty parlour, a fashion boutique, and a foot reflexology centre.Yap Hui Yee, executive director of Investment Sales & Capital Markets at Savills Singapore, highlights the potential for immediate rental income and good rental yield attached when purchasing this portfolio. The next owner may choose to use the space for their own use, or may consider alternative uses for the units, such as medical suites, health and wellness services or educational centres, subject to approvals.

City Gate is a 30-storey development on Beach Road, which boasts 311 residential units and a three-storey commercial retail podium. It is a strategic location, situated near various well-known heritage neighbourhoods such as Jalan Sultan and Kampong Glam. This makes it an ideal choice for investors, who could benefit from the increased footfall and vibrancy in the near term which will create further rental and capital value upside.

Savills Singapore has been appointed as the marketing agent for this portfolio, and an expression of interest exercise will close on September 20. Interested parties should not miss this potential opportunity to purchase the entire portfolio at an asking price of approximately $4,450 psf.

Real estate is a long game, and you should think carefully about your investment and its ability to grow over time. Finding a Condo that’s in a desirable location and in strong demand is a good place to start, but it’s just the beginning. Things like rental rates and vacancy rates can vary throughout the year, so it’s important to understand the local market before you invest. Make sure you have a financial buffer to protect you from unexpected expenses, and stay informed about market conditions and times of peak demand. This will help ensure that you make the most out of your condo investment in the long run.

The flexible use of the units, combined with the strategic location of City Gate, makes this an incredibly attractive option for investors. They can expect an immediate rental income with good rental yields, and further potential returns in the long-term.

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