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Why nobody buy Seletar Mall at 550M SGD

k1976

Alfrescian
Loyal
Located next to Fernvale LRT station in the Sengkang West area, The Seletar Mall is on a site with a 99-year leasehold tenure from 2012; this leaves a balance of about 87 years.

FairPrice Finest, Shaw Theatres, Popular Bookstore and Harvey Norman are among the tenants at the mall, which has a total net lettable area of about 189,500 square feet.

The mall, which opened in November 2014, has six levels of retail space, including two basement floors. Another three lower basement floors are for car parking spaces.

The suburban shopping centre in Sengkang is supported by a strong customer catchment from the surrounding Housing and Development Board flats as well as private condos and landed homes a short distance away.

The Seletar Mall is owned by Cuscaden Peak Investments and United Engineers.

Cuscaden Peak Investments – formerly known as Singapore Press Holdings before its privatisation in May 2022 – is a wholly owned subsidiary of Cuscaden Peak, a consortium made up of three shareholders: Hotel Properties Ltd, Mapletree Investments and CLA Real Estate Holdings.

Units of Paragon Reit closed flat at S$0.825 on Thursday.
 
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