By Raphael Lim
source: The Business Times
TWO adjoining conservation shophouses in Clarke Quay have been put up for sale via private treaty, with an indicative guide price of $6.2 million per shophouse, sole marketing agent Edmund Tie said on Thursday.
The two 99-year leasehold shophouses – located at 13 and 15 New Bridge Road respectively – are situated opposite The Central and can be sold separately.
The property at 13 New Bridge Road is a three-storey shophouse with an open roof terrace.
It has a land area of about 1,295 square feet (sq ft) and gross floor area (GFA) of about 3,119 sq ft.
Edmund Tie said that written permission has been granted by the Urban Redevelopment Authority to increase the total GFA to 501.23 square metres, or about 5,395 sq ft.
The marketing agent added that the incoming buyer can consider applying for a lease top-up to a fresh 99 years, subject to authorities’ approval.
The shophouse will be sold with vacant possession.
The adjoining unit at 15 New Bridge Road is a four-storey shophouse with land area of about 1,326 sq ft, and total floor area of about 3,864 sq ft.
The ground floor is leased toa café and the upper floors will be sold with vacant possession.
“Subject to authorities’ approval, the prospective buyer can consider increasing the gross floor area up to approximately 5,570 sq ft by constructing a six-storey rear extension and top up the lease to a fresh 99 years,” Edmund Tie said.
The indicative guide price of $6.2 million for each shophouse excludes the premium payable for lease renewal, the marketing agent said.
It added that the property is zoned for commercial use, and is not subject to additional buyer’s stamp duty or seller’s stamp duty.
The units are eligible for purchase by both local and foreign buyers.
The two Clarke Quay units are the latest in a string of shophouses being put up for sale in recent weeks.
Other shophouses that have entered the market of late include units in River Valley, Bugis and Joo Chiat.