THE entire commercial podium of Tedge, a freehold mixed-use development at the corner of Changi Road and Telok Kurau Road, in district 15 has been put up for sale.

The guide price is in excess of S$18 million or S$3,228 per square foot, said Savills Singapore, which is marketing the property for Macly Group, which is developing Tedge.

The sale offering comprises four adjoining commercial units on the ground floor – two purpose-built food and beverage (F&B) units equipped with kitchens, and two shop units, making up a total strata area of about 5,576 sq ft.

The ground-floor commercial podium at Tedge represents a significant stake of approximately 16.06 per cent share value in the development and there is generous car parking provision of seven lots allocated to the users of the commercial units.

As the property is approved as “commercial”, no additional buyer’s stamp duty or seller’s stamp duty will be imposed, said Savills.

The property is slated for completion by the end of 2022. The expression of interest exercise will close on Aug 18, 2020.

Galven Tan, deputy managing director of capital markets at Savills Singapore, said: “The Covid-19 situation has not curbed the appetite of F&B end-users and investors for commercial properties with F&B approvals as the sector is perceived as resilient. We have been receiving strong interest for such properties, especially those in the established and matured residential estates.

“The stretch of Changi Road is an established F&B enclave, with other F&B outlets from the food courts, coffee shops and restaurants which have been there for decades.”

Source: https://www.businesstimes.com.sg/real-estate/commercial-podium-of-tedge-put-up-for-sale

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