Singapore’s retail landscape is set for a significant boost with the announcement of the sale of 31 freehold commercial units at Midpoint Orchard, a prominent shopping mall situated along the bustling Orchard Road. With a collective starting price of S$281 million, these units present a unique investment opportunity, as reported by Huttons Asia’s recent press release.
Held under individual strata lots and spanning various levels of the mall, these units, approved for retail use, encompass a total estimated floor area of 22,614.95 sq ft, as reported in The Business Times. This sale offers potential buyers the chance to explore various retail and food & beverage (F&B) ventures, subject to approvals from relevant authorities.
Midpoint Orchard: A dynamic commercial hub
Midpoint Orchard stands as a testament to Singapore’s thriving commercial sector. Located at 220 Orchard Road, in the prestigious District 09, it is well-connected by major roads and public transport, with Somerset MRT station being the nearest.
The mall is a bustling hub of diverse business enterprises, ranging from beauty salons and fashion outlets to a tattoo studio, fitness centre, toy shop, and diverse dining options. Its vibrant mix of tenants underscores its status as a prime location for businesses.
The sale details of Midpoint Orchard commercial units
This sale features 31 units at Midpoint Orchard, each distinct in its offering but collectively creating a significant retail footprint. Aric Lim, District Director at Huttons Asia Pte Ltd, who is exclusively marketing these units, emphasises their regular shape and the possibility of adjoining units being combined for enhanced efficiency. The new owner is poised to delve into a variety of F&B concepts, from buffet restaurants to fast food outlets, enriching the mall’s existing gastronomic landscape.
Lee Sze Teck, Senior Director of Data Analytics at Huttons Asia, further highlights the commercial zoning of these properties, exempting them from Additional Buyer’s Stamp Duty or Seller Stamp Duty, making them a lucrative option for investors eyeing the transformation of Orchard Road.
Additional reading: 5 Condos that are Perfect for Shopping Addicts
Surrounding amenities, facilities, and properties
The allure of Midpoint Orchard is augmented by its surrounding amenities and facilities. The mall is near various shopping centres like 313@somerset and Orchard Central, providing ample shopping and dining options. Essential services like grocery stores (Cold Storage and NTUC Supermarket) and educational institutions (Overseas Family School, Chatsworth International School) are within reach.
The area’s connectivity to the Orchard Shopping District and the Central Business District, along with major expressways like CTE and AYE, further elevates its appeal as a top-tier commercial destination.
Conclusion
The sale of these 31 freehold commercial units at Midpoint Orchard marks a pivotal moment for potential investors and the retail sector in Singapore. With the expression of interest set to close on 28th February 2024, this presents a rare chance to invest in one of Singapore’s most dynamic and sought-after locations.
The future of Midpoint Orchard looks promising, with its strategic position in Orchard Road poised to capitalise on the area’s ongoing development and transformation. This sale is not just an investment in a property but an investment in the future of retail and commerce in the heart of Singapore.
Properties on Orchard Road
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This article is a product of 99.co and is based on information gathered from various sources, including, primarily, the press release from Huttons Asia and The Business Times. The usage of these sources was done in good faith to provide valuable insights. The sources of the referenced content are duly credited and we recommend readers to refer them for a comprehensive understanding of the topic.
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