Freehold shophouse in Joo Chiat for sale at $4.5 mil

/ EdgeProp Singapore |
Join our  Telegram  channel and follow our  Facebook  for the latest update.
SINGAPORE (EDGEPROP) - A freehold shophouse at 452 Joo Chiat Road is available for $4.5 million, which translates to $2,140 psf on the existing built-up area of 2,100 sq ft. The property will be sold in an expression of interest (EOI) exercise, announced CBRE, the marketing agent.
The conservation shophouse is in the Joo Chiat Secondary Settlement Conservation Area with a 5m road frontage along Joo Chiat Road. The property sits on a 1,100 sq ft plot that is zoned “commercial” with a plot ratio of 3.0 under the 2019 Master Plan. The plot has a maximum allowable gross floor area of about 3,200 sq ft, subject to approval.
 The shophouse at 452 Joo Chiat Road will be sold with full tenancy. (Credit: CBRE)
The shophouse at 452 Joo Chiat Road will be sold with full tenancy. (Credit: CBRE)
The property is fully tenanted providing immediate rental income, says Clemence Lee, senior director of capital markets at CBRE, adding that maximising the plot ratio through addition and alteration work will increase the property’s appeal to command higher rents and price.
The area is close to several residential estates around Marine Parade, as well as other commercial developments such as 112 Katong, Katong Point, and Parkway Parade. The shophouse is also close to the upcoming Marine Parade MRT Station on the Thomson-East Coast Line, set to be completed in 2023.
“At a quantum of S$4.5 million, we expect interest for this unique and palatable asset to be well-received,” says Lee. No additional buyer’s stamp duty or seller’s stamp duty is imposed for local or foreign buyers.
The EOI exercise closes on 18 March.
Read also:

Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp Facebook
Subscribe to our newsletter

Our Site (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

View More