Project summary for Far East Shopping Center.

Far East Shopping Centre is a prominent commercial property located along Orchard Road in District 9 of Singapore. Here are some key points about the property:

Location and Accessibility

• Situated on Orchard Road, one of Singapore's main shopping and entertainment boulevards.
• Easily accessible via nearby MRT stations such as Orchard TE14, NS22, and Orchard Boulevard TE13.

Property Details

• The property is a leasehold development with a 999-year lease from 1871.
• It occupies a land area of 3,346 sqm and has a Gross Floor Area of 17,489 sqm.

Amenities and Surroundings

• Surrounded by other shopping malls like Wheelock Place and Palais Renaissance.
• Close proximity to various grocery stores, including ISETAN, SUPERNATURE, and Cold Storage.
• Part of a vibrant district that includes a mix of luxury brands, high street fashion, cosmopolitan bistros, and international fast food restaurants.

Transaction Data

• Recent transaction data shows that shop units have sold for as high as S$4,502 psf for a 280 sqft unit, while office units have transacted at up to S$2,629 psf for an 818 sqft unit.

Collective Sale

• In 2023, the strata-titled owners of Far East Shopping Centre launched a collective sale at a reserve price of $928 million.

Attractiveness

• The property's location in the heart of Singapore's Central Business District and its proximity to major amenities make it an attractive spot for both buyers and tenants.

Overall, Far East Shopping Centre is a significant commercial property in one of Singapore's most bustling and desirable areas, offering a blend of retail, dining, and entertainment options.