Two F&B strata retail spaces in East Village will be sold for a total of $10.4 million, or $5.3 million each

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Two strata retail units in East Village in Bedok are being offered for sale for $10.4 million. A press release to announce that the deal was sold, Savills Singapore, the marketing agent, claims that the units are available for purchase either as a pair or. The price range for each one will be $5.3 million.

The ground floor units are fully F&B Approval and situated close to the mall’s entrance. Just 12 units of the total 108 in East Village have F&B approval According to Savills.

They will be offered under existing leases that have dedicated access points that give tenants the freedom to work outside of the mall’s regular working hours. Each unit comes with the strata size of 969 sq feet which includes an en-suite bathroom.

East Village is an open-air shopping mall that is freehold located on Upper Changi Road. It was opened on the 14th of July 2014 as a mixed-use development of four floors that houses 108 shops on the ground floor, and up to 90 apartment units in the top floors. There is a carpark in the basement in addition to a nearby open-air parking.

Yap Hui Yee who is the executive director of capital markets and investment sales Yap Hui Yee, executive director of investment sales and capital markets at Savills Singapore, says: “Within the Bedok-Upper Changi region there are just three malls that are strata-titled: East Village, Bedok Shopping Complex and Eastwood Centre. East Village, which was completed in 2014 and offers the freehold tenure, is the newest of developments.”

She continues, “Given the palatable quantum and limited freehold tenures in this desirable Bedok area Two excellent units at East Village presents an enticing opportunity for investors to purchase to add to their portfolios.”

She anticipates a strong interest in buying on the units of two strata that will be received from both investors and end-users. They will be sold via an express of interest process that will close on July 20.