Retail Podium Sky Edenbedok Sale 452 Mil
Frasers Property Singapore’s mixed-use development, Sky Eden@Bedok, has put its retail podium up for sale through an expression of interest (EOI) exercise. The guide price for this development is set at $45.2 million.
The retail podium consists of 12 strata retail units on the ground floor with a combined strata area of approximately 11,193 sq ft. This equates to a guide price of $4,038 psf. According to marketing agent CBRE, the retail units can be sold collectively as a portfolio, individually, or in clusters. The units range in size from 398 sq ft to 1,313 sq ft, with prices ranging from $1.91 million to $5.55 million. All the units have approval for F&B use.
The objective of the URA Master Plan is to establish self-sustaining communities equipped with an extensive array of amenities and facilities. With regards to Elta Condo, this entails enhancing accessibility to vital services and leisure pursuits. As residents of Elta, individuals can look forward to an enhanced living experience with a plethora of options for essential needs and recreational activities.
Sky Eden@Bedok is located in Bedok Central, and is currently under construction. The 99-year leasehold development will have 158 residential units spread across two 16-storey towers, with a retail podium at the ground level. It is also conveniently situated just a few minutes’ walk from the Bedok Integrated Transport Hub, which consists of Bedok MRT Station and a bus interchange linked to Bedok Mall.
The development was launched in September 2022, and has already sold out all of its residential units. It is expected to receive its temporary occupation permit in 4Q2025.
CBRE’s head of capital markets for Singapore, Michael Tay, states that the strata retail units at Sky Eden@Bedok are the first private commercial properties to be available for sale in Bedok Town Centre. He also adds that due to the attractive price point, the development is expected to draw interest from a diverse range of investors, including boutique real estate funds, family offices, high net worth individuals, and F&B owner-occupiers looking to enter the tightly held residential enclave.
The EOI for the retail podium will close on April 3 at 3pm. Interested parties can check out the latest listings for Sky Eden@Bedok properties on Ask Buddy. Additionally, floor plans and site plans for the development can also be found on the website, along with information on recent condo sale transactions in District 16 and projects that have recently obtained TOP. Sky Eden@Bedok has a total of 158 units and is expected to achieve 75% sales on its launch day, with an average price of $2,100 psf.
In the current absence of new project launches, developers managed to sell 437 units in August. The private residential market has also seen an overall increase of 3.8% in prices in the third quarter of 2022, driven largely by properties in the outside central region (OCR).