(SINGAPORE) A pair of adjoining retail units located on the third floor of Sim Lim Square will be featured at the next auction by ERA on Feb 27. The guide price for the two units combined is $3.38 million.The larger unit, measuring 958 square feet, has a guide price of $2.08 million ($2,171 per square foot). The smaller unit, measuring 570 square feet, has a guide price of $1.28 million ($2,246 per square foot).This marks the first time both units have been listed on ERA’s auction listings. They are available for sale individually or as a pair. According to ERA’s assistant vice president of auction and sales, Alison Lee, the units are priced competitively. “They are priced slightly below the market average to encourage a quick sale.”Sim Lim Square has a reputation as a hub for technology, with a concentration of electronics, gadgets, and computer parts retailers. The development, however, also includes several other businesses, such as eateries and traditional Chinese medicine shops.Read also: Three-bedroom Gambier Court unit for sale at $2.64 milAdvertisementAdvertisementOver the past 12 months, retail units at Sim Lim Square have been sold at an average price of $2,997 per square foot, according to EdgeProp Singapore’s analytical tools. In December 2024, a 592 square foot retail unit on the ground floor was sold for $1.92 million ($3,241 per square foot).At present, both units are tenanted, bringing in an approximate monthly rental income of $4.50 per square foot. According to EdgeProp Singapore’s rental data, which is based on a rolling 12-month average, retail units at Sim Lim Square rent for between $4.20 and $7.30 per square foot per month.In April 2019, the owners of Sim Lim Square launched a collective sale tender with a reserve price of $1.25 billion, but the tender did not result in a sale. In December of the same year, it was relaunched at the same price but still did not sell. Lee states a new collective sale committee is being formed to consider another attempt in the near future.Complet
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