Liv @ Changi Retail Mall for Sale at $36 Mil
Liv@Changi at 933 Upper Changi Road North will be sold via a expression of interest exercise. The price range is set at $36 million. The three story mall occupies a 13 428 sq ft freehold site with a built-up of 18 986 sq ft. The price guide works out at $1,896 psf based on the total built-up.
The mall was first put up for sales in April 2020 with a guide cost of $38M but no buyers were found. Completion in 2019 has given it a 75m dual-road façade along Upper Changi Road North. Cushman & Wakefield & CBRE have released a press statement on Feb. 20, announcing that the current tenants are a supermarket, a medical centre, a takeaway stall food, fitness studios, and a health club.
CBRE Executive Director of Capital Markets, CBRE highlights that this mall benefits from being near employment centres, such as Changi Airport Changi North Industrial or Loyal Industrial Estate. “Furthermore, the asset’s strategic location is within a densely population residential enclave. There are more than 15 residential condo projects within its immediate vicinity, containing over 6,000 residences.
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Cushman & Wakefield’s executive director capital markets believes future enhancements along the Changi Northern Corridor including the Loyang Viaduct that runs along Loyang Avenue as well as the 3km of cycling paths will improve the quality of life, the work environment and the recreational opportunities in the region.
Poh points out suburban retail complexes continue to be preferred by investors following last year’s sale for $338m of Changi City. He also says that Liv@Changi, with its affordable price tag offers a great opportunity for new-to market investors to establish brand recognition in a growing area.
The Liv@Changi EOI Exercise will end on March 27 at 3:30pm
