Singapore 6 June 2017 – CBRE is pleased to present a rare Raffles Place retail offering for sale by Public Tender.
Located at the ground floor of Prudential Tower (30 Cecil Street), the 5,715 sq ft (approximately) space is the only retail unit in the building. The unit benefits from dual prominent main road frontages – Cecil Street and Church Street, and enjoys exceptional pedestrian footfall from the traffic junction.
Prudential Tower is directly connected via underpass to Raffles Place Interchange MRT Station EW14/NS26 (approximately 100m) and is approximately 180m from Telok Ayer MRT Station (DT 18).
The unit has tremendous retail potential. It enjoys a double volume entrance which enhances its visibility and grandeur. Subject to the relevant authorities’ approval, other uses include F&B, retail, showroom or banking hall. It is currently tenanted to Prudential Assurance as a service centre.
Galven Tan (陈威礽), Director, Capital Markets, CBRE said, “The key selling point is the prominent double main road frontage that the unit enjoys, which makes the unit extremely visible to both vehicular and pedestrian traffic. Such an opportunity in the heart of Raffles Place is hardly available.”
“In every major city, retail units with such prominent street frontage are extremely sought after by businesses. This unit offers a diverse range of commercial uses (e.g. showroom/service centre/banking hall) to leverage its visibility and we believe investors will be extremely keen to evaluate,” Galven added.
The guide price for the 5,715 sq ft unit is $20.8 million, which works out to $3,639 psf.
CBRE is the exclusive marketing agent for this Public Tender Exercise.
The tender closes on 11 July 2017, Wednesday at 3 pm.