Ground floor strata space in Coronation Shopping Plaza up for sale at $35m

It has a floor area of 603 sqm with direct street access to Bukit Timah Road.

A ground floor strata commercial space at Coronation Shopping Plaza is up for sale at $35m, Edmund Tie & Company (ET&Co) revealed.

Located at Bukit Timah Road, the property enjoys high footfall from schools and residential estates within the vicinity. Tan Kah Kee and Botanic Gardens MRT stations are also less than a five-minute walk away.

The strata floor area for sale is around 603 sq m which occupies a prominent corner with direct street level access from the main thoroughfare of Bukit Timah Road and Coronation Road, the firm noted.

“The property is currently tenanted to HSBC Bank and Starbucks. Given its strategic location attributes, the subject property is also ideal for end users looking to operate their business out of a premise in this established precinct,” ET&Co senior director of investment advisory Swee Shou Fern commented.

ET&Co noted that shops units located on the second and third storey of Coronation Shopping Plaza have been trading in the price range of about $3,800 to $4,000 per sq ft in the recent years.

As a commercial property, foreigners are eligible to purchase it and will not be subjected to any Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD).

The tender for the strata space will close on 18 January 2019 at 12 noon.