Pair of commercial shophouses on Ann Siang Hill on the market for $33.8 mil

/ EdgeProp Singapore |
September 15, 2022 2:35 PM SGT
The shophouses sit on separate land titles and have a combined land area of approximately 2,649 sq ft (Picture: Savills Singapore)
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SINGAPORE (EDGEPROP) - A pair of 999-year two-storey attic shophouses on Ann Siang Hill is up for sale via an expression of interest exercise with a guide price of $33.8 million.
Read also: Freehold coffee shop at Jalan Besar up for sale at $28 mil
The shophouses sit on separate land titles and have a combined land area of approximately 2,649 sq ft. They can be sold individually or collectively, says Savills Singapore, which is marketing the property. Foreigners and companies are eligible to purchase the properties and no Additional Buyer Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) will be imposed.
The shophouses have a built-up area of 5,550 sq ft. They are currently interconnected and are fully occupied by an MNC.
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Yap Hui Yee, senior director, investment sales & capital markets at Savills Singapore, points out that the property, located in the Ann Siang and Club Street enclave, offers a unique blend of heritage and modernism. “A melting pot of old and new, Ann Siang Hill is not just one of Singapore’s quirkiest hipster enclaves; it is richly steeped in history,” she remarks.
According to Savills Singapore, the property is located within a 500m radius of four MRT stations — Maxwell MRT Station (Thomson-East Coast Line), Telok Ayer MRT Station (Downtown Line), Chinatown MRT Interchange Stations (North-East and Downtown Lines) and Tanjong Pagar MRT Station (East-West Line).
Yap believes the property will appeal to both owner-occupiers and investors. “It presents a great option for owner-occupiers such as family offices who are looking to acquire commercial property to use as their own office premise or investors who are looking to purchase property with a stable rental income stream,” she remarks.
The expression of interest exercise for the shophouses will close on Oct 19 at 3pm.
Check out the latest listings near Ann Siang Hill, Maxwell MRT Station, Telok Ayer MRT Station, Chinatown MRT Interchange Station, Tanjong Pagar MRT Station
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