Investment Opportunity, Sohar Plaza, Sohar
A unique investment opportunity to acquire the successful community mall, Sohar Plaza, located in Sohar. The mall is currently 85% occupied with VOX Cinemas as its anchor tenant.
Sohar Plaza is situated on Wiqaybah Street, approximately 1km from the Batinah Highway, the primary road connection through Sohar. The immediate area benefits from key residential estates including Palm Gardens which accommodates the majority of the Sohar expat population as well as a popular Lulu hypermarket which attracts visitors from the wider district.
Sohar Plaza was constructed in 2010 and comprises of a two storey shopping mall extending to a site area of 7,000 m2 and gross built up area of 5,000 m2. The shopping mall is laid out to provide mainly ground floor retail accommodation and has the benefit of over 100 surface level parking spaces around the centre.
The scheme is anchored by VOX Cinemas who occupy a store extending to 2,100 m2 under a long leasehold agreement. Other established tenants in the mall include Chula Indian restaurant, the Mandarin Chinese restaurant, Capital Store and Phone 7m Electronics.
The property provides an opportunity to engage in lease re-negotiations and is an attractive value add to increase occupancy levels from their current level.
Offers are invited for the freehold interest in the property.
Call David Short on +968 98549383 / +968 2411 6801 or visit savills.om for further details
Company name: Savills Oman
Address: Hatat House Ground Floor Ruwi Muscat Sultanate of Oman Po Box 1475
Office phone no: +968 22057800
Office fax no: +968 22057830
Primary email: email@example.com
Company Profile: Founded in 1855, Savills is a global real estate firm with more than 35,000 staff and 600 offices worldwide. In the Middle East, we have been the regional leader and real estate advisor of choice for over 42 years. The team provides an array of specialist services including strategic consultancy, valuations, residential sales and leasing, commercial sales and leasing, property and facilities management, international tenant representation, international residential and market research.