Image credit: ERA
ERA Realty Network Pte Ltd announces its exclusive appointment to facilitate the sale of two floors of prime retail space in CT Hub through an Expression of Interest. This unique opportunity comes at a strategic time, showcasing the immense potential for investors seeking a foothold in Singapore’s vibrant retail landscape.
Guide price and strata area: Prime investment potential
The guide price for this retail space stands at S$85 million, reflecting a competitive S$1,666 per square foot on the strata area.
To seize this exclusive opportunity, interested parties should act promptly as the Expression of Interest exercise concludes on Tuesday, 5 March 2024, at 3 pm. This prime retail space offers a substantial investment prospect in one of Singapore’s thriving commercial hubs.
Strategic location at Kallang Avenue and Kallang Bahru: A transformative destination
Recent repositioning efforts have transformed the retail podium within CT Hub into a dynamic sports and lifestyle destination. Nestled at the junction of Kallang Avenue and Kallang Bahru, this 11-storey multiple-user light industrial building now boasts an environment tailored to modern retail experiences.
Composition of strata units: Versatile and spacious
Comprising 49 strata units, CT Hub provides a combined strata area of approximately 4,741 sqm (51,028 sqft). This layout offers versatility to potential investors, ensuring a range of retail concepts can be accommodated within this expansive space.
Exceptional accessibility: Convenience redefined
With Bendemeer and Lavender MRT Stations just a short 3-minute and 12-minute walk away, respectively, CT Hub’s accessibility is unparalleled. Nearby major roads and expressways such as, Lavender Street, Kallang Bahru, Serangoon Road, Bendemeer Road, Balestier Road, Central Expressway (CTE), and Kallang Paya Lebar Expressway (KPE) further enhance the commercial property’s connectivity.
Proximity to lifestyle destinations: Enriching surroundings
Situated in the city fringe, the retail space benefits from proximity to lifestyle and entertainment destinations such as the Singapore Sports Hub, Singapore National Stadium, Lavender, Clarke Quay, and Chinatown.
Less than a 14-minute drive from Singapore’s Central Business District, CT Hub also stands at the crossroads of business and leisure.
Diverse offerings and rock-climbing feature: A unique experience
The retail podium offers a diverse range of Food & Beverage options, sports, and entertainment facilities. Among its unique features is a rock-climbing facility on the ground floor, drawing enthusiasts during both weekdays and weekends.
This innovative addition contributes to the overall appeal and character of the mall, potentially increasing foot traffic and engagement.
High occupancy rates: Immediate rental income
Investors can take advantage of the property’s high occupancy rates, ensuring immediate rental income upon acquisition. The potential for rental upside upon renewal further sweetens the deal, making it an attractive proposition in the dynamic Singaporean real estate market.
Insight from ERA’s Managing Director
Mr. Steven Tan, Managing Director of Capital Markets & Investment Sales at ERA, emphasises the robust retail scene in Singapore for 2024. He sees this venture as an excellent investment opportunity, projecting a potential gross yield of about 5%. The property’s strategic location, coupled with its recent repositioning, aligns with the evolving trends in consumer preferences.
According to Mr. Steven Tan, the Managing Director overseeing Capital Markets & Investment Sales at ERA, he anticipates a robust retail environment in Singapore throughout 2024. This optimism is underpinned by the resilience of consumer spending and the ongoing recovery in inbound tourism.
In fact, Mr. Tan foresees a potential gross yield of approximately 5%, emphasising the property’s current high occupancy rates and the prospect of upward rental reversion by the close of 2024.
Are you an investor interested in retail assets situated in city fringe locations? Join ERA’s Expression of Interest exercise today.
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