Retail mall Liv@Changi for sale at $36 mil
Liv@Changi, a retail mall located at 933 Upper Changi Road North, is up for sale through an expression of interest (EOI) exercise with a guide price of $36 million. The three-storey mall occupies a freehold commercial site measuring 13,428 sq ft and has a built-up area of 18,986 sq ft. The guide price works out to $1,896 psf on the built-up area.
The mall was previously put up for sale in April 2021 with a guide price of $38 million but did not find a buyer. Completed in 2019, it has a 75m-wide, dual-road frontage along Upper Changi Road North and Mariam Way. Current tenants include a supermarket, medical clinic, a takeaway food stall, fitness studios and a gym, says joint marketing agents Cushman & Wakefield and CBRE in a Feb 20 press release.
Hillock Green
Clemence Lee, executive director of capital markets at CBRE, highlights that the mall benefits from its proximity to employment centres such as Changi Airport, Changi North Industrial and Loyal Industrial Estate. “Furthermore, the asset is strategically located within a densely populated residential enclave, with more than 15 condo projects containing more than 6,000 residential units within its immediate vicinity.
Shaun Poh, executive director of capital markets at Cushman & Wakefield, believes that future enhancements to the Changi Northern Corridor, which includes the Loyang Viaduct along Loyang Avenue and 3km of new cycling paths, will bolster live, work and play offerings in the area.
Poh points out that suburban retail complexes in the vicinity continue to be favoured among investors following the sale of Changi City Point last year for $338 million. He adds: “With a palatable price tag, Liv@Changi offers an opportunity for new-to-market investors to establish its brand presence in an up-and-coming area which will see the growth of new private residences in District17 as well as key industrial and business sectors.”
The EOI exercise for Liv@Changi will close on March 27 at 3pm
Source : https://www.edgeprop.sg/property-news/retail-mall-livchangi-sale-36-mil
