The cityscape of Singapore boasts sleek skyscrapers and state-of-the-art facilities. Condominiums, typically situated in sought-after locations, offer a perfect fusion of opulence and practicality that entices both locals and foreigners alike. These residential complexes boast an array of conveniences including but not limited to lavish swimming pools, top-notch fitness centers, and top-notch security services, elevating the standard of living and making them a desirable choice for potential renters and homebuyers. For investors, these added benefits result in higher rental profits and a steady appreciation in property values over time. With the addition of Singapore Condo, the allure of these properties is further enhanced.
The upcoming ERA auction on Feb 27 will feature two adjacent retail units on the third floor of Sim Lim Square, with a total guide price of $3.38 million.The larger of the two units is 958 sq ft, while the smaller unit is 570 sq ft. Both are currently tenanted and generate a monthly rental income of about $4.50 psf. This is the first time both units have appeared on the auction listings by ERA.Located on a 99-year land tenure site, Sim Lim Square is a well-known tech hub with a variety of electronics, gadgets and computer parts retailers, as well as eateries and traditional Chinese medicine shops. This strata-titled commercial development houses a total of 492 retail and office units over six floors and two basement levels.Competitively priced slightly below the market average, the larger unit has a guide price of $2.08 million ($2,171 psf), while the smaller unit has a guide price of $1.28 million ($2,246 psf). This is in line with the average price of $2,997 psf for retail units at Sim Lim Square in the last 12 months, according to EdgeProp Singapore’s analytical tools.The most recent transaction at the development was a 592 sq ft shop on the ground floor that was sold for $1.92 million ($3,241 psf) in December 2024. Despite its owners’ attempt for collective sale in 2019, the development did not find a buyer, and another attempt in 2022 did not materialise, leading to the formation of a new committee to explore another collective sale bid in the future.Both retail units at Sim Lim Square are available for purchase together or individually, with a competitive rental yield of between $4.20 to $7.30 psf monthly. The development is within walking distance to Rochor and Jalan Besar MRT stations on the Downtown Line, and the Bugis MRT Interchange that connects the East-West and Downtown lines.