DTZ announced the sale of four shophouses — a single shophouse and a row of three shophouses — at Boat Quay (above, right). The single shophouse has a site area of 1,360 sq ft and gross floor area (GFA) of 4,321 sq ft, while the three adjoining shophouses have a combined site area of 4,058 sq ft and a combined GFA of 11,514 sq ft. The shophouses are located in the Boat Quay Conservation Area, zoned for commercial use under the 2014 Master Plan. They are within walking distance of the Clarke Quay and the Raffles Place MRT stations. The tender for the shophouses closes on April 21. Based on research by DTZ, 119 shophouses changed hands last year, with sales totalling 683 million. Notable transactions included 75 Pagoda Street, which was sold for $20 million ($3,500 psf based on built-up area); and 32 and 34/34A Sultan Gate, which fetched $20.8 million ($2,600 psf based on estimated build-up area).

This article appeared in the City & Country of Issue 669 (Mar 23) of The Edge Singapore.