Liv@Changi retail mall for sale at $36 mil

Liv@Changi is a retail shopping mall located on 933 Upper Changi Road North. It’s up for sale via an expression of interests (EOI) with a price guide of $36million. The three-storey retail mall occupies an 18,986 sq. ft. built-up space on a 13,428 sq. ft. freehold commercial plot. The built-up area is equivalent to $1,896 per square foot.

The mall had been put on the market in April 2021 at a price guide of $38m but failed to find a buyer. The mall was completed in 2019 and has a 75m wide dual-road frontage on Upper Changi Road North, Mariam Way. Cushman & Wakefield & CBRE jointly released a press release on February 20 stating that current tenants include a grocery, medical clinic and takeaway food stall as well as fitness studios and a gymnasium.

Newport Residences

Clemence Le, executive director for capital markets at CBRE highlights the benefits of being close to employment centers such as Changi Airport and Changi North Industrial. “Furthermore the asset is strategically situated within a densely-populated residential enclave with more than 15 condominium projects that contain more than 6,000 units in its immediate proximity.

Shaun Poh believes that the future enhancements of the Changi Northern Corridor will enhance the live, work, and play options in the area. This includes the Loyang Viaduct on Loyang Avenue, and 3km of new bicycle paths.

Poh explains that suburban retail centers in the area continue to be favored by investors after the sale last year of Changi City point for $338m. He continues: “With its palatable price, Liv@Changi is an excellent opportunity for investors new to the market to establish their brand presence in a rapidly growing area that will see new private residences and key industrial and business sector growth in District17.”

The Liv@Changi EOI will close at 3pm on March 27, 2019.