FOR IMMEDIATE RELEASE

Tedge Retail – 4 adjoining freehold brand new street-fronting F&B and retail units at the junction of Changi Road and Telok Kurau Road for sale by Expression of Interest (“EOI”)

10th July, 2023

Tedge Retail, 4 adjoining freehold brand new street-fronting F&B and retail units prominently located at the junction of Changi Road and Telok Kurau Road is up for sale by Expression of Interest (“EOI”) with an indicative price S$18.0 million, says the appointed marketing agent Sakal Real Estate Partners (“Sakal”).

Tedge is a 5-storey residential development with 42 residential units and 4 commercial units at the 1st-storey developed by Macly Group, expected to obtain TOP around 4th Quarter 2023. Tedge Retail comprises of 4 F&B and retail units with a combined strata area of 518.0 sqm/ 5,576 sqft. The F&B units are fitted with the necessary provisions for immediate operation. The units enjoy high visibility along Changi Road and Telok Kurau Road and 6 carpark lots within the development are designated for Tedge Retail.

“Changi Road and Telok Kurau Road is also witnessing its own rejuvenation similar to other parts of eastern Singapore. It is now home to popular F&B establishments like Seng Coffee Bar, Simplicite and Eastside Collective.” says Sakal. “Tedge Retail is ideal for a new theme restaurant and existing F&B establishments looking to expand its footprint. Besides owner occupiers, we believe Tedge Retail will also attract investors seeking to acquire F&B/ retail properties. Unlike some of the shophouses located along Changi Road, Tedge Retail is not subjected to both Additional Buyer Stamp Duty and Sellers Stamp Duty.” added Macly Group.

Tedge Retail is approximately 500-metre from both Eunos and Kembangan MRT Station (East-West Line).

The asking price of S$18.0 million translates to S$3,228 psf on strata area. Comparable retail transactions over the past 18 months includes Everitt Edge
(S$3,484psf to S$3,698psf) and Soho Life (S$3,378psf).

Sakal anticipates keen interest in this property given its attribute, favourable location and strong demand for freehold F&B and retail properties. The EOI will close on 16 Aug 2023 (Wednesday) at 3pm.