Oxley Holdings has sold over 100 strata retail units at The Bridge (above) in Cambodia since it was soft launched for sale in Singapore on May 27. The company released 150 of the 183 units on Level 3 at The Bridge for sale.
The retail units on Levels 2 and 3 are sized from 107 to 613 sq ft, while the F&B units are larger, ranging from 410 to 1,103 sq ft. The average price of the retail units on Level 3 is US$780 psf ($1,053 psf), with absolute prices starting from US$91,000, while the price for the F&B units is from US$239,000.
Oxley will officially launch The Bridge for sale in Singapore on July 16 and 17. It plans to release the remaining 33 units on Level 3 and 60 of the 183 units on Level 2. The average price of the retail units on Level 2 will start from US$900 psf, with absolute prices starting from US$96,000, while the price for the F&B units will start from US$275,000. All the strata commercial units will be sold with a freehold tenure.
Oxley is providing a guaranteed rental yield of 6% for the first five years. For the next five years, Oxley will be providing a guaranteed rental yield of 8%. According to the group, the average guaranteed rental yield works out to be 70% over 10 years, or 7% a year.
The Bridge is Oxley’s maiden joint-venture project with Cambodian developer Worldbridge Land and is located in the city centre of Phnom Penh. The mixed-use development comprises a 762-unit residential tower, which is almost fully sold, and 963 SOHO units, 70% of which have been taken up.
The two towers sit atop a five-storey retail podium, with a total of 630 strata retail and F&B units, and a total net saleable area of 234,703 sq ft. The retail units are sized from 107 to 1,436 sq ft, while the F&B units are larger, ranging from 410 to 1,617 sq ft.