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14 commercial units in Parkway Centre for sale at S$29.3 million

A PORTFOLIO of 14 commercial units in Parkway Centre has been placed for sale via private treaty with a guide price of S$29.3 million, said sole marketing agent Brilliance Capital on Thursday (Jul 13). This works out to an average price of S$1,843 per square foot for the portfolio.

Sammi Lim, founder and executive director for Brilliance Capital, said the 14 units have a combined strata area of about 15,897 square feet (sq ft), with individual sizes ranging from 732 sq ft to 1,356 sq ft.

The Business Times understands that the vendor is Parkway Investment, and the sale is on a first-come-first-served basis. Lim said while the intention is to sell the 14 units together, the vendor is open to review offers for individual unit purchases.

The combined units will represent a major stake of approximately 13.35 per cent of the Management Corporation Strata Title total share value of the property, and offer the purchasers the option to retain some of the units for their own use or investment purposes. As the property is zoned for commercial use, the purchase is open to both local and foreign buyers, with no Additional Buyers’ Stamp Duty or Sellers’ Stamp Duty. 

The 13-storey building has retail and food and beverage outlets on the first floor, along with office and commercial units from the second to 13th floors. It also provides direct connectivity to a multi-storey car park, and is located next to the upcoming Marine Parade MRT station on the Thomson-East Coast Line. 

By Samuel Oh, Business Times

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