City Gate is selling four strata retail spaces for $9.68 million

Four retail units from the strata at City Gate are being sold for $9.68 million. Savills Singapore has been appointed as the marketing agent.

These four apartments are situated on one of the floors in the mixed use project, and each unit has the total strata area of 217 sq feet. So, the selling price of the whole portfolio is equivalent to around $4,450 per square foot.

The properties are let to a range of businesses, such as hair salons, a nail and beauty parlour fashion boutiques and the foot reflexology center. “The inventory of ground-floor retail units in City Gate offers immediate rental rent and a high rental yields,” says Yap Hui Yee, executive director for capital markets and investment sales of Savills Singapore.

Residents at Lumina Grand EC enjoy a distinctive experience that combines variety with the comforts of home.

She says that the new owner will be able to use the space for personal usage, or to think of other applications for the units like medical suites, wellness and health services, or even education centers subject to approval.

City Gate is a 30-storey mixed-use development located situated on Beach Road. The project comprises 311 housing units as well as three storeys of commercial retail space. It is situated close to lively neighborhoods with a rich heritage, such as Jalan Sultan and Kampong Glam.

This is what makes City Gate strategically located within the precinct, and an ideal option for investors, according to Yap in his statement “Incoming buyers are likely to benefit from additional rental as well as capital value gains, while benefiting from increased foot traffic and energy in the short future.”

The retail unit portfolio will be offered for sale in an exercise of expression of interest that will close on September 20.