2 Adjoining Freehold Ground Floor Units With F&B Approval Located At Simpang Bedok For Sale

13 June 2023 – Savills Singapore, the exclusive sole marketing agent, is pleased to offer 2 adjoining ground floor units with full F&B approval at East Village for sale. The property is in a freehold mixed-use development in the heart of Simpang Bedok.

Completed in 2014, East Village is a four-storey mixed-use development comprising of 108 shops on the ground floor and 90 apartments on the upper levels. The mall provides convenient parking options for visitors, including an open-air public carpark right outside the mall and a basement carpark within the development.

East Village is strategically located in Bedok, the largest populated planning area in Singapore (with a population of 278,270). The development is ideally positioned and benefits from a ready catchment from developments in the vicinity such as education institutions like Anglican High School and ITE College, commercial work nodes like Changi Business Park, and surrounding public and private residences.

The 2 F&B-approved units for sale occupy prime positions adjacent to the mall’s main entrance, facing the open-air public carpark. These units enjoy high foot traffic and are currently tenanted, featuring dedicated entrances that allow tenants the flexibility to operate outside of the mall’s official operating hours. Each unit encompasses 969 square feet of strata area and includes an en suite bathroom.

Ms. Yap Hui Yee, Executive Director, Investment Sales & Capital Markets at Savills Singapore, comments: “Within the Bedok-Upper Changi locale, there are only 3 strata-titled malls: East Village, Bedok Shopping Complex and Eastwood Centre. East Village, completed in 2014 and offering a freehold tenure, stands out as the newest development. Given the palatable quantum and scarcity of freehold tenure in this desirable Bedok locale, these 2 prime units at East Village presents an enticing opportunity for investors to acquire for their portfolio.”

“Out of the 108 units in East Village, only 12 are specifically approved for F&B operations. These units are strategically positioned at the external-facing section, right in front of the public carpark, and boast their own dedicated entrances. The presence of dedicated entrances offers additional flexibility for businesses, enabling them to cater to the late-night supper crowd without being restricted by the mall's operating hours. Notably, the 2 units available for sale are positioned along this prime stretch of the mall, and we anticipate strong interest from both investors and end-users,” Ms Yap adds.

These 2 F&B approved strata units can be purchased individually or as a pair. The guide price for a unit is $5.3 million, and the price of both units together is $10.4 million.

Both foreigners and companies are eligible to purchase, and no additional buyer’s or seller’s stamp duty will be imposed.

The sale will be conducted through an Expression of Interest (EOI) exercise which closes on 20 July 2023, Thursday at 3pm.