Investment sales advisory firm Showsuite Consultancy has been appointed by developer GuocoLand to advise and launch for the sale the six strata-titled shops within the 1,024 unit condominium, Sims Urban Oasis. The large-scaledevelopment, which is fully sold, is set amidst the matured Aljunied estate which is currently undergoing rejuvenation, and is located within 5 minutes’ walk or 400 metres to the Aljunied MRT station.
The six shops are located within two clusters beside the entrances to the development, and are easily accessible, not just to the residents, but also to the general public. The shops range in size from 323 sq ft to 678 sq ft, and have a combined floor area of 2,895 sq ft. Four adjoining shops are located at the main entrance along Sims Drive, while the other two adjoining shops are located at the side entrance, next to the bus-stop along Aljunied Road.
The shops enjoy a huge residential catchment of over 1,000 households within the development, and over 5,000 other households in the nearby public housing estates. In addition, there will be a further 550 households upon the completion of a neighbouring condominium that is currrently under construction.
Mr Karamjit Singh, CEO of Showsuite Consultancy: “Remote working is set to be a widespread and permanent trend induced by the current pandemic. Not all households, however, have the luxury of space in their apartments toaccommodate work functions on a sustained basis. Even so, after a while, working adults yearn for work and life separation and added privacy for video-calls. These shops would be perfect for new concepts like ‘co-working-cafes’ - the ideal blend of work stations, phone booths and coffee fixes at their doorstep of their homes.”
“This new trend is beginning to manifest elsewhere. Starbucks in Tokyo, for example, recently opened its latest Ginza outlet fitted with bookable video-call booths and solo work-stations, in addition to group discussion seatings. Like Toyko and Hong Kong, Singapore’s home sizes are relatively compact, which points to this strong use case. In the Singapore context, it could, of course, be a co-working operation fused with a traditional kopi joint,” added Mr Singh. Aside from this, these shops would also be suitable for enrichment classes, convenience stores and clinics.
Ms Dora Chng, General Manager (Residential), GuocoLand, said: “With a large catchment and a convenient location, theshops at Sim Urban Oasis are ideal for a myriad of business and services. We are excited to offer our shops to investors and enterprises who will put the spaces to innovative and supporting uses benefitting our home buyers at Sims Urban Oasis.”
To facilitate this, GuocoLand is offering the six shops to be acquired in clusters of four and two units – thereby providingthe owners the benefit for bulk discounts, adjoining units and critical mass in floor space.
The average prices of the shops work out to $3,000 per square foot on the strata areas before 21% bulk discounts. Afterthe bulk discounts, the cluster of four shops work out to a price of $3.988 million or $2,360 per square foot for the total strata area of 1,690 sq ft, while the cluster of two reflects $2,395 per square foot on the strata area of 1,206 square feetbased on the price of $2.888 million. The shops are also offerred with a 2-year 5% per annum return guaranteed by the developer. There is no additional buyers’ stamp duty payable and the investment is open to foreigners.
The shops are open for sale by private treaty.