Three commercial shophouses in District 1 and 2, at Ann Siang Road and Keong Saik Road respectively, have been put up for sale via Expression of Interest (EOI). Photo: Knight Frank
Three commercial shophouses in District 1 and 2, at Ann Siang Road and Keong Saik Road respectively, have been put up for sale via Expression of Interest (EOI), revealed marketing agent Knight Frank Singapore.
The shophouses form part of a portfolio of properties, which also include a terrace house at Neil Road, that is being offered at a guide price of $38.36 million.
Knight Frank noted that the properties can be bought either as a portfolio or individually.
The two 999-year leasehold shophouses at 13 and 18 Ann Siang Road are situated near the junction of Ann Siang Hill and Ann Siang Road. They also lie within the Telok Ayer Conservation Area, with the upcoming Maxwell MRT station just 250 meters away.
A two-storey shophouse with attic, 13 Ann Siang Road has a land area of around 127 sq m (1,367 sq ft) and a built-up area of about 229.3 sq m (2,468 sq ft). It was renovated some years ago and is fully tenanted.
18 Ann Siang Road, on the other hand, is a three-storey shophouse with basement. The property has a land area of about 127 sq m (1,367 sq ft) and built-up area of about 401.92 sq m (4,326 sq ft).
Currently, the ground floor space is leased as an F&B outlet, while the upper levels are leased to a consultancy company.
13 Ann Siang Road has a guide price of $9.1 million or about S$3,687 per sq ft (psf), while 18 Ann Siang Road is priced at $13.8 million or $3,190 psf.
The third shophouse is 3 Keong Saik Road, which is offered at $9.6 million or about $2,967 psf.
The three-storey corner shophouse located off Neil Road within the Bukit Pasoh Conservation Area is within walking distance to Outram Park MRT station. It is also near F&B outlets as well as boutique hotels in the neighbourhood. The Working Capitol also operates co-working spaces in the adjacent block.
With a land area of about 119.61 sq m (1,287 sq ft), the freehold shophouse has a built-up area of about 300.64 sq m (3,236 sq ft) and is presently leased as service offices.
“Despite the Covid-19 outbreak, real estate transactions have continued, especially for properties with freehold or 999-year tenures that are in prime locations. Unsurprisingly, this may be because they are largely deemed as assets with the potential for appreciation over the long term. We believe the response from savvy investors and buyers for the properties will be encouraging,” said Mary Sai, Executive Director of Investment and Capital Markets at Knight Frank Singapore.
Since all three shophouses are zoned Commercial under the 2019 Master Plan, both local and foreign buyers may acquire them with no Additional Buyer’s Stamp Duty payable.
The EOI exercise for the three shophouses closes on 15 April.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email email@example.com