Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting to read:%0A%0A {0} %0A%0A {1}

Entire Ground Floor Comprising Two Freehold Strata Retail Units In Prime Orchard District For Sale At $38.8 Million

Shaun Poh • 24/05/2023


Cushman & Wakefield (NYSE: CWK), a leading global real estate services firm is pleased to announce the exclusive sale of the entire ground floor comprising two freehold strata retail units located at 15 Scotts Road, one of Singapore's most prestigious districts via an Expression of Interest.

Formerly known as Thong Teck Building, 15 Scotts is a prime freehold 9-storey commercial building prominently located along the busy thoroughfare of Scotts Road, and surrounded by notable shopping malls, luxury hotels, the American Club, and the Tanglin Club. The building underwent a comprehensive $15 million refurbishment in 2015 that included the upgrade of common areas and a new full-height curtain wall.

According to Cushman & Wakefield’s Q1 2023 market report, island-wide prime retail rents continued to trend up on the back of rising shopper traffic and tenant sales. Orchard prime retail rents could lead growth in 2023, underpinned by a strong tourism recovery and limited new prime retail supply in the pipeline. Singapore’s international visitor arrivals are expected to double to at least 12 million visitors this year from about 6.3 million visitors last year.

Mr. Shaun Poh, 傅子伟, Executive Director of Capital Markets explains: “Prime retail units offer an exceptional investment opportunity for discerning buyers looking to capitalise on Singapore's thriving retail market. The sale presents a unique chance for investors and businesses looking to establish a presence in a highly coveted location. Its freehold status allows for long-term value creation through future redevelopment or enhancement possibilities as the subject site has yet to maximise its plot ratio of 4.9 per URA Master Plan 2019.

Additionally, the efficient floor plates allow for versatility in tenant repositioning to cater to changing demands of consumers. Based on past records, an ancillary café change of use approval was previously supported by relevant authorities.

Most importantly, as strata subdivision of commercial developments in Orchard Road is being restricted, the opportunity to own a piece of prime investment asset such as 15 Scotts is rare.”

The two adjacent ground floor units are currently tenanted to a luxury home interior décor brand and a premium spa facility that occupy a combined strata area of approximately 6,437 sq ft (Unit 1 – approx. 3,186 sq ft, Unit 2 – approx. 3,250 sq ft). Zoned full commercial, foreigners and foreigner companies are eligible to buy without attracting Additional Buyer’s Stamp Duty.

The Expression of Interest exercise will close on Friday, 30 June 2023, 3pm.


Recent Press Releases

Hotel Construction
Data centre construction cost increases of up to 8% across region year-over-year but development shows no sign of pausing

Japan has been named the most expensive market for data centre construction while Singapore has topped the rankings for the most expensive land costs in Asia Pacific, according to a new report.

Amy Kathleen Kelly • 06/11/2023

fit out guide
Asia Pacific’s post-pandemic office: more expensive to build, but as important as ever

Persistent inflation, tight labour markets, and ongoing supply chain delays have increased average fit out costs across Asia Pacific, according to Cushman & Wakefield’s 2023 Asia Pacific Office Fit Out Cost Guide, but major occupiers are absorbing the higher spend in their quest to improve return-to-office rates.

Amanda Phua • 30/03/2023

handshake (image)
Shankar Narayanasamy appointment
Cushman & Wakefield Appoints Shankar Narayanasamy as Client Solutions Lead for Global Occupier Services, Asia Pacific

Cushman & Wakefield, a global leader in commercial real estate services, today announced the appointment of Shankar Narayanasamy as Client Solutions Lead for its Global Occupier Services (GOS) business in Asia Pacific, effective 9 May 2022. 

Amanda Phua • 18/05/2022

10 Toh Guan Road East Singapore
10 Toh Guan Road East for Sale by Expression of Interest

10 Toh Guan Road East (the “Property”) has been put up for sale via an Expression of Interest (EOI). Cushman & Wakefield is the appointed exclusive marketing consultant for the sale.

Brenda Ong • 04/04/2022

C&W Services reimagines the future of work with the transformation of its headquarters at Chai Chee

Officiated by the Guest-of-Honour, Speaker of Parliament Tan Chuan-Jin, the new workplace embodies the firm’s commitment to Diversity, Equity & Inclusion (DE&I) and the adoption of smart technology that promotes both sustainability and well-being.

Chek Yee Foo • 23/03/2022

Asia Pacific Transaction Volumes Expected to Record Double-Digit Volume Growth in 2022 and 2023
Asia Pacific Transaction Volumes Expected to Record Double-Digit Volume Growth in 2022 and 2023

Global real estate market recovery is expected to hit the fast lane, with Q4 2021 volumes driving annual increase of 55%. 

Jayna Poh • 01/03/2022

Singapore Office Market Poised for Another Robust Year in 2022
Singapore Office Market Poised for Another Robust Year in 2022

Following a strong recovery in office demand, reduced vacancies and growth in CBD Grade A office rents in 2021, the Singapore office market is expected to further pick up pace in 2022.

Amanda Phua • 07/02/2022

With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on Privacy & Cookies.
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All