Three Bukit Timah retail units hit market for $18.5m

The units are available individually or as a portfolio.

Three freehold ground-floor retail units at 20, 26 and 28 Greenwood Avenue in Bukit Timah are up for sale for $18.5m via Expression of Interest, according to CBRE.

The units are available individually or as a portfolio. 20 Greenwood Avenue spans 1,539 square feet with a guide price of $6.5m, whilst 26 and 28 Greenwood Avenue each span roughly 1,450 square feet with guide prices of $6m apiece.

The units sit within Hillcrest Park, a landed enclave with only 27 commercial units in total, and are fully tenanted, with tenants including Baker & Cook, Peperoni Pizzeria, Greenwood Fish Market and FairPrice Xpress.

As freehold assets, they carry no Additional Buyer's Stamp Duty or Seller's Stamp Duty, making them open to foreign buyers.

CBRE cited a recent $7.1m caveat at 24 Greenwood Avenue, positioning the current guide prices at a 10% to 18% discount to that benchmark.

The properties are within walking distance of Tan Kah Kee MRT station on the Downtown Line, with access to the Pan-Island Expressway and Central Expressway.

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