Ann Siang Road shophouse with 999-year lease going for $13 million
By Timothy Tay
/ EdgeProp Singapore |
SINGAPORE (EDGEPROP) - A 999-year leasehold shophouse at 18 Ann Siang Road has been put up for sale by Expression of Interest (EOI) for $13 million, announced Knight Frank Singapore, the sole marketing agent. This property is part of a trustees’ tranche of property assets that also includes a residential shophouse and 6 commercial shophouses.
The shophouse at Ann Siang Road is a three-storey conservation building with a basement. The property sits on a 1,367 sq ft plot with a built-up area of 4,326 sq ft. The guide price of $13 million translates to $3,005 psf on the floor area.
The ground floor of the shophouse is leased to an F&B outlet, and the basement serves as its kitchen. The shophouse is zoned ‘Commercial’ under the 2019 Master Plan, and the sale is open to locals and foreigners, with no additional buyer’s stamp duty and seller’s stamp duty imposed on the purchase.
The three-storey shophouse with basement is near the junction of Ann Siang Road and Ann Siang Hill, and it is within the Telok Ayer Conservation Area. (Picture: Knight Frank Singapore)
“Savvy buyers who have followed the shophouse market closely are fully aware of its potential for capital appreciation, as well as the possibility of renting the property out to multiple tenants for maximum rental income,” says Mary Sai, executive director of capita markets (land & building, collective & strata sales) at Knight Frank Singapore.
According to Knight Frank, commercial conservation shophouses in prime central locations are highly sought-after by investors as these assets are rarely available ad tightly held. The relatively lower commercial loan rate has enhanced buying interest for such properties, the marketing agency says.
The EOI for this sale will close on Dec 21.
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