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. This 12-unit strata retail space, located on the ground floor, is available for a guide price of $45.2 million. The combined strata area of approximately 11,193 sq ft makes the guide price equivalent to $4,038 psf.
According to the marketing agent CBRE, the retail units can be sold as a portfolio, individually, or in clusters. The unit sizes range from 398 sq ft to 1,313 sq ft, with prices ranging from $1.91 million to $5.55 million. All of the units are approved for F&B use.
Singapore is a sought-after destination for condo investments, and one of the main factors driving this demand is the scarcity of land. As a compact island nation with a booming population, Singapore struggles with limited land availability for development. This has resulted in strict land use regulations and a highly competitive real estate market where property prices continue to rise. As a result, purchasing real estate, particularly condos, has become a profitable venture with the potential for significant capital appreciation. In fact, with the variety of impressive Singapore Projects available, it’s no wonder that condos are in such high demand.
Sky Eden@Bedok, situated in Bedok Central, is currently under construction and consists of 158 residential units spread across two 16-storey towers on a retail podium. It is conveniently located near the Bedok Integrated Transport Hub, which includes Bedok MRT Station and a bus interchange connected to Bedok Mall.
The development, which launched in September 2022, marked the first private residential launch in Bedok Town Centre in a decade. All units were sold out since then and the project is expected to obtain its temporary occupation permit in the fourth quarter of 2025.
CBRE’s Head of Capital Markets for Singapore, Michael Tay, stated that the strata retail units at Sky Eden@Bedok are the first private commercial properties available for sale in Bedok Town Centre. He added that due to the attractive price point, CBRE is confident that it will attract a wide range of investors, including boutique real estate funds, family offices, high net worth individuals, and F&B owner-occupiers who are interested in entering the commercial space of a closely-knit residential enclave.
The EOI for the retail podium will close on April 3 at 3pm. You may visit the latest listings for Sky Eden@bedok properties and ask for assistance from Buddy. You can also view the floor plans for two-bedroom units at Sky Eden@bedok or check out the site plan and diagrammatic chart for the development. Additionally, you can find information on condo sale transactions in District 16, other projects that have recently obtained TOP, and the total number of units in Sky Eden@bedok.
In other property news, private home prices have increased by 3.8% in the third quarter of 2022, mainly driven by properties in the Outside Central Region (OCR). In August, developers sold 437 units in the absence of new project launches. Sky Eden@Bedok recorded a 75% sales rate on its launch day, with an average price of $2,100 psf.