Goldhill Plaza and One Commonwealth are two commercial properties with a prime location close to Singapore’s business districts. Moreover, these two properties serve as a great option for first-time investors.
Buying commercial property in Singapore can be a great investment when you choose the right property. While many listings are available, some properties can prove to be a better deal than others. So, let us take a look at two great opportunities in Singapore, namely Goldhill Plaza and One Commonwealth.
Over the years, it has been proven that investing in commercial property and renting it out is usually more profitable than doing the same with a residential property. On average, in Singapore, you can expect a yield of about 4-5% on your investment.
Goldhill Plaza is a commercial property located between Newton MRT station and Novena MRT station, and as such provides a central and busy location. Owning commercial property in Goldhill Plaza provides the opportunity of earning profit from people living or working around the property.
Currently, Goldhill Plaza operates under a 999-year leasehold. The complex is made up of a 3-storey retail podium.
On the ground floor, the average retail unit size is 893 square feet. The units located on the ground floor have the advantage of getting more pedestrian traffic as well as more exposure. This is especially true for the units located next to the parking. All ground floor units have received the approval to operate food and beverage businesses as well, so investing in one of them can keep your options more open for rental.
Some units which are suitable for food and beverage operation can be bought over to rent it out to interested parties who are in this line of work. With an existing brand and readily prepared staff, the business can start operating in an instant. This can be a major asset for new investors who are unsure of how to operate a business as this will give you the necessary experience that you are looking for.
One Commonwealth is a commercial property located near the Commonwealth MRT which is within a reasonable distance from Holland Village and Buona Vista. Though it is simply a 30-year leasehold property, there are still many benefits to it for investors.
This development is situated on the side of a busy road and its proximity to the train station gives One Commonwealth the advantage of a prime location for pedestrian traffic. The main building has 9 floors and about 250 retail units.
Owning a retail unit on the ground floor gives a significant advantage as people are more likely to stop and look through the shop windows while they are making their way to their destination. As such, buying one of those units and renting it out will be more profitable as an investor.
However, for every potential investment, there are bound to be pros and cons. In this case, the area around One Commonwealth can be prone to heavy rainfall and flash flooding, which is something to take into account when owning a retail unit with a ground floor location.
If you own a food and beverage unit, you can benefit from the crowd of office workers working in the same building and looking for a place to get some lunch every day.