SINGAPORE – A freehold car park at Holland Road Shopping Centre is up for sale via expression of interest (EOI) with an indicative price in the range of $32 million.
The 47-lot car park, which is located on the basement level of the shopping centre, has a strata floor area of 1,503 square metres and is zoned commercial, marketing agent Edmund Tie said on Monday (Oct 14).
It is not subject to additional buyer’s stamp duty or seller’s stamp duty, and is eligible for purchase by both local and foreign buyers.
Key tenants of Holland Road Shopping Centre include Cold Storage, UOB Bank, Watsons and Guardian Pharmacy. The mall has a 78 metre wide frontage along Holland Avenue, and is situated at the entrance of the Holland Village or Chip Bee Gardens precinct.
Swee Shou Fern, Edmund Tie executive director of investment advisory said that strata-titled car parks are tightly held and rarely available for sale. Strategically located in a lifestyle hub, the car park offers “strong and steady cash flow”.
“Such an investment opportunity is hard to come by and we expect keen interest from investors who wish to capitalise on the tight supply of parking spaces in this bustling enclave, with potential capital upside from a collective sale,” Ms Swee added.
The EOI exercise for the car park will close on Nov 20, 3pm.