The two-storey shophouse or North Canal Road has a built-up area of approximately 3,290 sq ft (Picture: Steward Asia)
A shophouse at 43 North Canal Road is up for sale through an expression of interest (EOI) exercise. The two-storey shophouse is priced starting from $4.6 million, says Steward Asia, which is marketing the property. Steward Asia is a unit under PropNex Realty.
The price works out to $1,398 psf, based on the shophouse’s built-up area of approximately 3,290 sq ft.
The shophouse is a 99-year leasehold property. It occupies a land area of 1,838 sq ft that is zoned for commercial use, with a plot ratio of 4.2. This means the prospective buyer could potentially perform addition and alteration works to maximise the property’s gross floor area to approximately 7,720 sq ft, Steward Asia adds.
Read also: Pair of adjoining shophouses at in Chinatown for sale at $32.5 mil
The shophouse is currently fully tenanted. It is a short walk to Clarke Quay MRT Station, on the North East Line.
“43 North Canal Road presents a rare opportunity for buyers looking to acquire prime shophouses at entry price levels, with tremendous potential to unlock substantial value through asset enhancement,” says Loyalle Chin, co-founder of Steward Asia.
The EOI will close on June 30 at 3pm.
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