Holland Village trio of shophouses scooped up for $70 mil
Multiple offers from high-net-worth individuals, family offices and funds signal sustained investor demand for scarce, well-located commercial assets with established tenants.
Three adjoining freehold commercial shophouses at 29B/C, 31 and 33 Lorong Liput in Holland Village changed hands for $70 million.
Body
A row of freehold commercial shophouses at 29B/C, 31 and 33 Lorong Liput, have changed hands for $70 million.
The corner, two-storey adjoining properties drew strong interest, with multiple offers received from high-net-worth individuals, family offices and funds, said CBRE, which acted for the sellers.
It reflects the continued demand for well-located, high-quality commercial assets with strong investment fundamentals, said Savills, which advised the buyer.
Read also: Private investor Cheong Sim Lam snaps up Holland Piazza mall in Holland Village for $100 mil
Occupiers at the trio of shophouses include Pet Lovers Centre, Tai Cheong Bakery, and Natureland.
The properties sit on a 7,543 sq ft site within a cluster of shophouses surrounded by Holland Piazza, Holland Village Market & Food Centre, and One Holland Village.
In February, EdgeProp Singapore reported that seven ground-floor retail units at the nearby Holland Road Shopping Centre, occupied by CS Fresh supermarket, were sold for $71.1 million. The deal came amid renewed transaction activity in the precinct.
Check out the latest listings for Holland Village properties