Ravi Chandran
The Oxley Tower F&B units come with private roof terrace and private lift access and have a combined strata floor area of approximately 14,650 square feet
CBRE and SRI announced on August 25th that they have been appointed as the joint exclusive marketing agent for two freehold retail units which occupy one entire floor in Oxley Tower. Located at 138 Robinson Road, Oxley Tower is an integrated freehold development anchored by a retail podium and offices from the 5th to 32nd storey.
The sale of the two strata retail units will be by way of Expression of Interest (EOI) exercise. The EOI exercise for Oxley Tower F&B units closes on 29 September, Wednesday at 3pm.
Located on Level 4, the two strata F&B units that come with private roof terrace and private lift access have a combined strata floor area of approximately 14,650 square feet. To be sold on vacant possession, the guide price for the Oxley Tower F&B units is approximately S$1,775 per square foot on the strata area, or S$26 million for both units.
Interested buyers can purchase the units on an individual or collective basis.
Breakdown of the two strata units are as follows:
Given that the two units occupy the entire 4th floor, potential purchasers have the flexibility of configuring the units for optimum usage to accommodate their business operations.
Mr Clemence Lee, Senior Director of Capital Markets, Singapore at CBRE said, “This is a rare opportunity for an investor or owner-occupier to acquire two newly renovated freehold F&B units located in the heart of the Central Business District. The large Outdoor Refreshment Area (ORA) and private roof garden allow the eventual F&B operator to offer unique F&B concepts such as farm-to-table experiential dining within the city. Alternatively, the successful buyer can also consider other uses for the space such as childcare centre, retail, showroom, or office, subject to approval from the relevant authorities.”
Mr Low Choon Sin, Managing Partner of SRI Capital Market added, “An entire floor of strata F&B retail space is rarely available, especially within the Central Business District. As part of URA’s CBD Rejuvenation Plan, the traditional business district will transform to accommodate a greater extent of residential uses. Investors as well as F&B occupiers will set to benefit from the CBD revitalization with a wider crowd of both residents and office workers. Furthermore, the properties’ private lift access will provide patrons with a sense exclusivity. Not to mention, the rooftop garden also provides a perfect setting for alfresco dining.”
Both locals, foreigners and companies are eligible to purchase the Oxley Tower F&B units, which is zoned as “Commercial” use. There will be no Additional Buyer’s Stamp Duty or Seller’s Stamp Duty imposed on the purchase.
Oxley Tower enjoys an array of amenities including Amoy Street Food Centre and eateries nestled in eclectic shophouses within the Tanjong Pagar precinct. Islandwide connectivity is available via major trunk roads and the Marina Coastal Expressway (MCE), as well as the nearby Tanjong Pagar MRT station and the upcoming Shenton Way MRT Station slated to be completed in 2022. Newly completed commercial developments such as 79 Robinson Road and Afro Asia i-Mark will further enhance the office catchment within the vicinity of Oxley Tower.
Commercial properties are generally categorized into Retail, Offices, Conservation shop houses as well as HDB shop houses.
You can get a commercial property loan:
- As an individual
- Or as a Company
For buying under company name, generally it will be under Private limited company. There are 2 distinctions:
- Buying for business own use; or
- Buying under investment holding company
The companies will need to have financial statements and proof of profitability to qualify for a bank loan.
For buying under investment holding company, directors or majority shareholders will need to be assessed for Total Debt Servicing Ratio (TDSR). This is where it gets complicated as many business people tend to hold on to multiple properties. Hence the need for debt restructuring becomes important. iCompareLoan mortgage consultants can assist to assess your overall debt situation and devise ways to make suggestions for improvements.
You should also find out which is the most suitable loan for your property.
