Four shophouses in districts 1 and 2 put on the market

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FOUR shophouses in Singapore’s central business district, including two at Tanjong Pagar, one at Telok Ayer and another at Pagoda Street, have been put up for sale by sole marketing agent ERA Realty Network.

All four are zoned for commercial use.

According to ERA, the newly renovated conservation shophouse at Duxton Hill has an estimated gross floor area of 3,515 square feet (sq ft) and sits on a total site area of 1,216 square feet. It is located near four MRT stations and an open space car park. It can also be leased out either per floor plate or as a unit, according to ERA.

With a guide sale price of S$3,129 per square foot (psf) on land area, ERA is marketing the Duxton Hill shophouse at S$11.8 million.

The other shophouse for sale at Tanjong Pagar is located at Craig Road. The three-storey corner shophouse has an estimated gross floor area of 5,077 sq ft, and occupies a total site area of 1,916 sq ft.

Currently, each level is tenanted till 2022, and is leased out at S$37,800, said ERA. The conservation shophouse is located within walking distance of Tanjong Pagar MRT station.

Further, it has an Urban Redevelopment Authority (URA) approval for restaurant use on the first floor and for office use on the second and third floors. The shophouse is marketed at S$13.8 million, with a guide sale price is S$6,784 psf on the land area.

The conservation shophouse at South Bridge road in Telok Ayer with an estimated gross floor area of 3,150 sq ft sits on a total site area of 1,493 sq ft.

The 2.5-storey shophouse has a leasehold of 999 years and is currently leased out at S$10,000, with the tenancy running till May 2021.

Located within a three-minute walk from Chinatown MRT station, the shophouse is also accessible to a doorstep bus stop, the real estate agency said. The guide sale price translates to S$6,697 psf on the land area, and a total of S$10.8 million.

On Pagoda Street, the freehold 3,364 sq ft four-storey conversation shophouse spans a site area of 1,234 sq ft and comes with a current tenancy. The first two levels have the URA’s approval for use as a shop, while levels three and four can operate as an office.

The property is a one-minute walk from Chinatown MRT station, and is located at the Telok Ayer Conservation Area. Its guide sale price is S$13.8 million, which translates to S$10,534 psf on the land area.

ERA associate division director Avim Lau said that these four shophouses can be either sold individually or as one investment portfolio. 

Expression of interest will end in early May, he added.

source: The Business Times

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