The subject retail area contains three adjoining store units with a floor plate of 7,654 sq ft. Located on the third-storey of this mall, the components are ideally positioned facing the escalator.
Presently, an effort by the collective earnings committee to receive 80% consensus by the owners to get a en bloc sale is continuing for its growth. The 3 components constitute a combined share worth of approximately 8.12percent of the entire share value of their evolution.
“Queensway Shopping Centre is famous for sailors and foreigners for stores selling sports great and apparels. Since the subject land is confronting primary shoppers’ concourse and contains high visibility, we hope to obtain attention from retailers that wish to obtain a foothold in this mall that has a large footfall within the previous several decades,” explained Mary Sai, Executive Director of Investment & Capital Markets.
There’ll be no Added Buyer Stamp Duty and Seller Stamp Duty payable to the components. Since they are commercial real estate, foreigners and businesses will also be eligible to purchase.
Mary added,”We realize the subject land was utilized as a food court many decades back. The owner might even ask through the government for a change in the usage of their premises to prepare F&B sockets or perhaps a gym”