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The Linq @ Beauty World commercial retail podium put up for sale

Posted by admin on July 6, 2023

The Linq @ Beauty World’s 2 storey retail podiums up for sale at $136 million. The 53 retail units have a total strata area of 29,676 sqft. The guide price for the combined units is estimated to be $4850 per square foot (psf) according the marketing agent CBRE. 

The Linq is a freehold integrated mixed development with 120 unit residential condominium above the commercial podium. The residential component was fully sold during the launch in 2020. The units there transacted at an average price of $2165psf. 

Its location along Upper Bukit Timah Road and Jalan Jurong Kechil with direct link to the Beauty World MRT station. Its completion is estimated to be in 2nd quarter of 2024. The retail podium had 80 per cent of the space provisioned for restaurant use. 

When the Linq was launched for sale in November 2020, the developers BBR Holdings had plans to lease out the commercial units before putting it up on the market for sale. Said Clemence Lee, CBRE’s executive director of capital markets in Singapore. 

BBR Holdings received offers for sale.

Over the years, the developers received unsolicited offers for the the retail shops. That’s when they decided to market it for sale. According to Lee. 

With several new developments in the Beauty World area such as The Reserve Residences and Bukit V it could help to rejuvenate the precinct by 2027. The Reserve Residences sold 520 units out of 732 units at an average price of $2460psf during its launch weekend in May 2023. 

The new owners of The Linq could look to strategise their exit plan by selling individual units. Each unit size ranges from 17 to 101 square meters. It will appeal for investors or owner occupied businesses.


Commercial properties not liable for ABSD

Interest for commercial properties have been buzzing with activities lately as this class asset are not liable for ABSD. 

In June, Lendlease Global Commercial Reit took over 10 per cent share of Parkway Parade Partnership (PPP). Also in May 2023, property group TOP Global put 2 retail strata units on the ground floor of 15 Scotts road up for sale at $38.8million. A retail shop in Peninsula Plaza went on sale at $6.09million in March.

The expression of interest exercise for the retail podium at The Linq closes on Aug 16th. 

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