Frasers Property Singapore is offering the retail podium of Sky Eden@Bedok for sale through an expression of interest (EOI) exercise. This mixed-use development in Bedok has a guide price of $45.2 million.
The retail podium consists of 12 strata retail units on the ground floor, with a combined strata area of approximately 11,193 sq ft. This translates to a guide price of $4,038 psf. CBRE, the marketing agent for the property, states that the retail units can be sold collectively as a portfolio, individually, or in clusters. The units range in size from 398 sq ft to 1,313 sq ft, with prices starting from $1.91 million to $5.55 million. All units are approved for F&B use.
Sky Eden@Bedok is located in Bedok Central and is still under construction. The 99-year leasehold development comprises of 158 residential units spread across two 16-storey towers, with a retail podium at its base. It is conveniently situated a short walk away from the Bedok Integrated Transport Hub, which consists of Bedok MRT Station and a bus interchange that is connected to Bedok Mall.
Investing in a condo in Singapore offers numerous advantages, one of which is the potential for capital appreciation. The country’s strategic position as a leading global business hub, paired with its robust economic growth, results in a consistent demand for real estate properties. Over the years, Singapore has witnessed a consistent increase in property prices, particularly high-end condominiums located in desirable areas. By timing their investment well and holding onto their properties for extended periods, investors can reap significant returns through condo appreciation.
The development was launched in September 2022 and marked the first private residential launch in Bedok Town Centre in a decade. All residential units were quickly snapped up. Temporary occupation for the development is expected to be obtained in 4Q2025.
Head of Capital Markets for Singapore at CBRE, Michael Tay, states that the strata retail units at Sky Eden@Bedok are the first private commercial properties to be made available for sale in Bedok Town Centre. He believes that the affordable quantum of the property will appeal to a wide range of investors, including boutique real estate funds, family offices, high net worth individuals, and F&B owner-occupiers looking to break into the commercial space of the tightly held residential enclave.
Interested parties can submit their EOI for the retail podium until April 3 at 3pm. For more information on Sky Eden@Bedok, check out the latest listings or consult Ask Buddy. Additionally, you can view the 2-bedroom floor plans, site plan, and diagrammatic chart for the development. The site also provides information on the number of units in Sky Eden@Bedok, recent condo sale transactions in District 16, and projects that have obtained TOP recently.
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Private home prices in Singapore rose 3.8% in the third quarter of 2022, driven by properties in the Outside Central Region (OCR). With no new project launches, developers sold 437 units in August. Sky Eden@Bedok achieved 75% sales on its launch day, with an average price of $2,100 psf.