Four shophouses on Tessensohn Road going for $25 mil

/ EdgeProp
July 19, 2018 7:45 PM SGT
Cushman & Wakefield is marketing this row of four shophouses (Credit: C&W)
A row of four contiguous freehold conservation shophouses at Nos 15, 17, 19 and 21 Tessensohn Road is up for sale at a reserve price of $25 million. This translates into $1,399 psf on the allowable maximum GFA, according to the marketing agent Cushman & Wakefield (C&W).
The properties have four individual land titles and a total land area of 5,958 sq ft. Under the 2014 Master Plan, it is zoned “residential with commercial at first storey”, with a gross plot ratio of 3.0. The GFA can be maximised up to 17,873 sq ft.
The successful bidder can efficiently construct a six-storey rear extension over the four land plots. This is subject to the authorities’ approval.
Nos 15 and 21 are the original two-storey shophouses; Nos 17 and 19 each have a part-two-storey front and part-three-storey rear. Each shophouse has a private car park lot.
The four shophouses are being held by three separate ownerships, and the owners have jointly put them up for sale by tender.
Christina Sim, director of capital markets at C&W, says: “Despite the recent cooling measures in the residential property market, freehold conservation shophouses in city-fringe locations have withstood the test of time as favoured long-term investments.”
The tender will close on Aug 28.