Special Feature
Exclusive launch of 4 EOI prime commercial shophouses
By Tommy Ng,
Vanz Han and Hector Ding
/ Brought to you by PropNex |
Shophouses in Singapore make for a great investment opportunity.
Commercial Shophouses - A golden opportunity to both local and foreign investors. According to joint exclusive marketing agents Vanz Han, Tommy Ng and Hector Ding, commercial shophouse properties are also mostly located in prime areas of Singapore, hence attracting a steady footfall for tenants and stable rental income for landlords.
According to Vanz, the demand for shophouses has been very strong, despite the pandemic. Vanz says: “We noticed an increase of financial institutions and ultra-high-net-worth buyers investing in this particular property segment. One of the reasons is due to the growing inflow of overseas funds into Singapore. We have a track record of billions dollar worth of property transactions, and for the past 6 months we have transacted over $200 million worth of commercial shophouses.”
Tommy elaborated that due to the historic nature of these properties, there is an extremely limited supply in the market. “There are only about 6,750 shophouse units in Singapore, with only about 60% located in prime areas. The supply is capped but the demand keeps growing. Investors who are building owners can take advantage of the flexibility to enhance the property by reconfiguration and change of usage (subjected to URA conservation guidelines and approval), giving them the possibility to command higher rentals.” says Tommy.
“Due to recent cooling measures in the residential segment, many investors are shifting into investing in commercial properties, especially commercial-zoned shophouses,” says Hector, adding that these shophouse properties are popular also because they are excluded from additional buyer’s stamp duty (ABSD) and seller stamp duty (SSD).
Currently, the trio have four unique opportunities to launch, via express of interest (EOI), that come with existing tenancies.
34, 35 & 36 Bussorah Street
Bussorah Street is located within the famed Kampong Glam area near to Bugis which is a hot favourite tourism spot.
Three adjoining two-storey shophouses – 34, 35 and 36 Bussorah Street – are up for sale. Commending a wide frontage, the three units have a total land size of 2,015 sq ft and a built-up area of 2,474 sq ft. The guide price for this set of properties is $12.6 million and buyers can opt to purchase all three units together or individually.
EOI closing date: July 7, 2022 – 4.00pm
27 Tanjong Pagar Road
Tanjong Pagar Road has been transformed into a bustling place in the Central Business District (CBD) area. It is a place to work, live and play as the area is surrounded by many offices, high-end residential properties, restaurants, as well as fitness & lifestyle establishments.
27 Tanjong Pagar Road – is up for sale on this stretch. This shophouse unit spans over four storeys, with the first and second floors approved for restaurant use. The land size comes up to 3,010 sq ft, with a built-up area of 11,189 sq ft. The guide price for this set of properties is $39.8 million.
EOI closing date: July 15, 2022 – 4.00pm
14 Purvis Street – Kai Hotel
Purvis Street once was part of the historic Hainanese enclave of Singapore. It is located within one of the most popular shopping areas where Bugis & City Hall MRT is just within walking distance and the iconic Raffles Hotel is just a street away from Kai Hotel, which is the current tenant.
The property for sale at 14 Purvis Street sits on a 999 years leasehold site zoned for hotel use, which is one of the two only hotel zones along this street. The ground floor of this property is also approved for restaurant use with liquor licence. Overall, the property is a boutique conservation hotel that spans over five storeys with an attic and has an approximate gross floor area of 8,529 sq ft. It currently has 32 rooms that occupy the upper storeys. The guide price for this shophouse is $39.8 million, which comes up to about $4,666 psf or $1.25 million per room key.
EOI closing date: July 25, 2022 – 4.00pm
36 Circular Road
Circular Road is one of Singapore’s prime versatile shophouse districts, located within close proximity of Clarke Quay, Boat Quay, Robertson Quay and the Singapore River belt. In the day, the area is filled with white-collar workers thanks to nearby office buildings, and at night partygoers fill the streets as they hit the surrounding bars and clubs.
This unique 3.5-storey shophouse unit has a leasehold of 999 years, with the first floor approved for restaurant use and the upper floors typically rented out for office, retail or fitness center use. The land area is 1,085 sq ft, while the gross floor area of the property spans over 3,572 sq ft.
Currently, the unit is being tenanted by Japanese restaurant Sushi Koike. Similar to all the other F&B establishments within the area, it has seen a stellar recovery as Singapore reopens the economy and lifts social distancing measures. The guide price for this property is about $16.9 million.
EOI closing date: July 25, 2022 – 4.00pm
For more information on the properties, contact Tommy Ng, Vanz Han or Hector Ding.
Photos: Albert Chua/ EdgeProp Singapore
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