The new owner could capitalise on a potential en bloc windfall 💰
Sim Lim Square is a 99-year leasehold commercial building with 492 strata-titled units. have been put up for auction by Knight Frank with a total guide price of $4.56 million. One unit is 581 sq ft and has a guide price of $1.81 million , while the second unit is 882 sq ft with a guide price of $2.75 million .
Tech hub Sim Lim Square is a strata-titled commercial development on Rochor Canal Road in District 7. The development, completed in 1987, sits on a 78,152 sq ft plot with a 99- year land tenure that started in 1983. It has 492 commercial units across six floors and two basement levels. Recent shifts in the retail environment and consumer preferences towards e-commerce have impacted the mall’s footfall. Many of the ageing owners of the strata units are also planning to retire.
Acquiring two retail units at Sim Lim Square may allow the new owner to capitalise on a potential en bloc windfall. Also, both units would generate recurring rental income for the new owner. The units are leased to an entertainment operator on a fresh three-year lease that started in February, with an option to extend for a subsequent three years.Units at Sim Lim Square command higher rents and rental yields compared to surrounding properties.
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