JBE Holdings Signature Yishun EC
Holland V Shopping Centre – Seven ground floor units up for sale
Seven ground floor retail units at the Holland Road Shopping Centre are on the sales market. These seven freehold strata-titled shops facing Holland Avenue are rented for at least the next six years to Cold Storage, a 24 hour supermarket chain store. The grocery store occupies 12,260 feet and is the anchor tenant in the four storey shopping centre, built in 1972, in Holland Village.
Holland V Shops up for Sale
The latest property valuation prices the properties at around $7,500 per square foot or $92 million. The average selling price of retail units in the Holland V Shopping Centre over the last year was around $5,300 per square foot. According to caveats lodged at the Singapore Land Authority, a 484 square foot unit sold for $2.38 million or around $4,913 per square foot in November 2013.
Holland V to remain distinctive in Master Plan
The Cold Storage unit’s lease expires in 2020, and its owners can choose whether to renew the lease closer to the expiry date or to divide the units for sale according to the strata titles. Cold Storage has been at the Centre for over thirty years, other well known tenants include the craft shop, Lim’s Art and living and the Thambi Magazine Store. Holland Village was named an “identity node” i.e. place having a distinctive character, under the Urban Development Authority Master Plan.There is a plan to build a six hectare extension to Holland Village during the next two years. The Holland Village Extension will, apart from housing more retail space, consist of two pieces of land, 1.3 hectares and 1 hectare in size, designated for housing and another 2.3 hectares site for a mixed use development project.Those wishing to express their interest in the seven retail units have until 3pm on 3rd July 2014.