By Fiona Lam
source: The Business Times
MORE shophouses in Singapore have come to the market, with five along Tras Street, North Bridge Road and Balestier Road launched for sale on Monday.
At the same time, three adjoining retail units at Bukit Timah Plaza are also available for purchase,
‘These shophouses and retail units carry a combined indicative price of $33.3 million, SRI Capital Market, the exclusive marketing agent for the properties, told The Business Times.
They can be bought individually or together as a portfolio, although SRI did not disclose their individual price tags.
One of the shophouses sits on ‘Tras Street with a land area of 1,994 square feet (sq ft) and a total floor area of about 5,283 sq ft. The 99-year leasehold site is zoned for commercial use under the Urban Redevelopment Authority’s Master Plan 2019.
The conservation shophouse, which has three storeys plus an attic, is fully tenanted and a short walk to ‘Tanjong Pagar MRT station.
“Shophouses along Tras Street are coveted and tightly held,” said SRI. Nearby, 48 Tras Street was sold for close to $9.9 million this month, the agent added.
The portfolio also includes a pair of freehold shophouses along North Bridge Road occupying a land area of about 2,445 sq ft and a gross floor area of about 3,876 sq ft.
Situated within the Kampong Glam historic district, the pair has two storeys with a mezzanine level and is zoned for commercial use. Both properties are fully tenanted.
Also in the portfolio are two freehold shophouses on Balestier Road, across the road from Zhongshan Mall and Zhongshan Park. The pair spans a and area of about 3,890 sq ft and an existing gross floor area of about 5,422 sq ft.
‘The properties on Balestier Road are zoned for residential and commercial use, with a gross plot ratio of 3.0.
They fall within the Balestier Secondary Settlements. Under conservation guidelines, the buyer can build the pair’s rear extension up to six storeys, within the maximum gross floor area of about 11,670 sq ft, subject to the authorities’ approval, SRI said.
The three retail units at Bukit Timah Plaza are located at a basement level of the mall. Fully tenanted, the trio has a total strata area of about 1,322 sq ft.
On foot, Bukit Timah Plaza is about five minutes away from Beauty World MRT station,
The expression of interest exercise for the portfolio of shophouses and retail units closes at 3pm on Jan 5, 2021.
Last month, a ground-floor commercial unit at the mall was also offered for sale via expression of interest with a price tag of $$30 million. SRI was also the exclusive marketing agent for that 17,351 sq ft unit,