Source : Business Times – 6 Nov 2009
Space may be used for F&B, entertainment outlets or divided into small units
A FREEHOLD commercial unit at Thomson Imperial Court on Upper Thomson Road has been put up for sale by tender. The unit has a strata floor area of 11,011 square feet and faces the road.
DTZ, which is handling the sale, describes the property as a ‘rarely available large retail space’ in a ‘bank’s sale by tender’ notice. Other units in the area are as small as a few hundred square feet, said the firm’s senior director for investment advisory services, Shaun Poh.
The buyer of the unit can set up an entertainment or food and beverage outlet, he said. Or the space can be segmented into smaller units for lease.
Mr Poh reckons that the unit could attract bids of $8-9 million. This would translate to $727-817 per sq ft.
Smaller units at Thomson Imperial Court have changed hands in the past six months for about $1,200 to $1,300 psf, he said.
The unit up for sale is currently leased to Shop N Save supermarket, which pays rental of about $3.50 psf per month. The tenancy expires in the third quarter of next year.
Thomson Imperial Court is next to Sin Ming Plaza and Thomson Community Club. It is also near Marymount MRT station and has plenty of parking space, DTZ said.
The tender closes on Dec 3.
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