St Michael’s Place - 1 Jalan Taman [SOLD]

Written By KK

FOR SALE: Freehold 4-Storey Commercial Podium

Property Overview

For your consideration is a 4-storey commercial podium comprising approximately 12,788 sqft of strata area. It is located along Serangoon Road within St Michael’s Place condominium. The property has a secured tenancy with Maplebear Preschool, one of the largest pre-school operator in Singapore. It is generating a strong cashflow of approximately 3.5% yield and has an asking price of S$25,000,000.

Key Investment Highlights

Controlling Interest in the Freehold Development

  • Combined 6 commercial strata units with an approximate 26.7% share value

  • No Additional Buyer’s Stamp Duty (ABSD)

  • No Seller’s Stamp Duty (SSD)

  • Foreigner Eligible

Rarity of Large Childcare Approved Space (12,788 sq ft)

  • 4 + 4 + 4 years lease term from August 2018

  • Stable rental growth

Single “AAA” Tenant (Maplebear Preschool)

  • Growing student enrolment; current enrolment >50% of total allowable student capacity (Approx. 290)

  • Maplebear is one of the largest childcare operator in Singapore with more than 40 centres island wide

  • Childcare operators are regarded as essential services in Singapore

For more information, please contact us here.

 
KK
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