Liv@Changi, a retail mall in Changi, is for sale at a price of $36 million

Liv@Changi retail mall, located at 933 Upper Changi Road North is for sale by way of an expressions of interest (EOI). The guide price is $36 million. The three-storey shopping mall is located on a commercial freehold site measuring 13,428 square feet and has an area built up of 18,986 square feet. The guide price is $1,896/sq ft on the built up area.

The mall was put up for auction in April of 2021, with a price range of $38 to $40 million. However, no buyer came forward. It was completed in 2019. The frontage is 75m wide, with dual roads along Upper Changi Road North & Mariam Way. Cushman & Wakefield & CBRE, joint marketing agents, released a release on Feb. 20 stating the current tenants of the building include a supermarket and medical clinic as well a takeaway food stall and fitness studios.

Pinetree Hill

Clemence Clemence, executive director, capital markets, at CBRE, states that the mall is a great asset because of its proximity to employment hubs such as Changi Airport Changi North Industrial, and Loyal Industrial Estate. “Furthermore, the asset has been strategically located in a densely populous residential enclave. More than 15 condos projects with over 6,000 residential units are within its immediate surroundings.

Shaun Poh is the executive director for capital markets at Cushman & Wakefield. He believes future enhancements will be made to the Changi Northern Corridor. These include the Loyang Viaduct, along Loyang Avenue, as well as 3km new cycling paths.

Poh says that suburban retail malls are still popular with investors in the area following the Changi CityPoint sale last year. The deal was worth $338 million. He says: “With an affordable price tag, Liv@Changi presents an opportunity for new investors to establish their brand in an area that is growing rapidly. This includes the development of private residences within District 17 as well as important industrial and commercial sectors.”

The Liv@Changi EOI exercise will close on the 27th of March at 3pm