A pair of retail units at Sim Lim Square for sale at $1.86 milTwo strata retail units at Sim Lim Square on the market for $1.86 milBy ERA’s auction on February 27, a pair of adjacent retail units situated on the third floor of Sim Lim Square will be featured with a total guide price of $3.38 million.The bigger unit, covering an area of 958 square feet, is priced at $2.08 million (equivalent to $2,171 per square foot), while the smaller unit, spanning 570 square feet, is priced at $1.28 million ($2,246 per square foot). This owner’s sale marks the first time both units have appeared on ERA’s auction listings. The units can be purchased as a pair or individually. According to Alison Lee, assistant vice president of auction and sales at ERA, the units are competitively priced. “They are priced slightly below the market average to facilitate a quick sale.”Related article: Three-bedroom Gambier Court unit for sale at $2.64 millionThe analytical tool by EdgeProp Singapore indicates that the average transacted price for retail units at Sim Lim Square stands at $2,997 per square foot over the past year. The most recent transaction at the development was the sale of a 592 square feet shop on the ground floor for $1.92 million ($3,241 psf) in December 2024.Sim Lim Square has established itself as a technology hub, well-known for its wide array of electronics, gadgets, and computer parts (Photo: ERA)Lee also mentions that Sim Lim Square is renowned for being a technology hub. The development boasts an array of stores selling electronics, gadgets, and computer parts. It is also home to numerous other businesses, including eateries and traditional Chinese medicine shops.Both retail units up for sale are currently occupied, generating an estimated monthly rental income of $4.50 per square foot. Data from EdgeProp Singapore, based on a rolling 12-month average, shows that retail units at Sim Lim Square fetch between $4.20 and $7.30 per square foot in monthly rental income.The owners of Sim Lim Square put the development up for collective sale in April 2019 with a tender offer set at a reserve price of $1.25 billion. A subsequent relaunch for the purchase of the development was made in December 2019 at the same price, but no buyers were found.Plans for another attempt were made by a collective sale committee formed in 2022; however, it did not come to fruition. Lee confirms that a new committee is in the process of being formed and is looking into the possibility of another collective sale attempt in the near future.Completed in 1987, Sim Lim Square is a commercial development divided into strata-titled units along Rochor Canal Road in District 7. Built on a 78,152 square feet plot of land with a 99-year tenure starting from 1983, the complex boasts 492 retail and office units across six floors and two basement levels. It is situated within walking distance of Rochor and Jalan Besar MRT Stations, both of which are on the Downtown Line. In addition, the Bugis MRT Interchange connects the East-West and Downtown Lines.Browse the latest listings for sale at Sim Lim Square.