Pair of freehold conservation shophouses at Kreta Ayer for sale at $50 mil

SINGAPORE (EDGEPROP) - Two adjoining freehold conservation shophouses located on 43 and 45B Kreta Ayer Road have been put up for sale via expression of interest at an indicative selling price of $50 million or $5,836 psf.

See also: Three conservation shophouses in District 1 for sale at $31 mil

The shophouses, which occupy a 3,160 sq ft plot of land, comprise three storeys and an attic, offering a combined gross floor area (GFA) of 8,568 sq ft. Both units were last refurbished in 2012, with routine repair and re-decorative works undertaken to maintain the properties.

Currently almost fully tenanted, the shophouses have approval for F&B and entertainment use on three levels. “These shophouses are unique in that they are conserved freehold properties. The current owners are looking to sell as they are semi-retired and feel that there is a demand for such shophouses at locations with a rich history like Chinatown,” says Benjamin Peh, associate senior director of C&H Properties, which is marketing the shophouses.

The shophouses are located within the Bukit Pasoh Conservation Area and zoned for commercial use under the 2019 Masterplan. As such, the shophouses are not subject to Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duties (SSD). (Find Singapore commercial properties with our commercial directory)

Prominent developments nearby include Kreta Ayer People’s Theatre, Oriental Plaza and Kreta Ayer Community Centre, with food establishments along the Neil Road and Duxton Road.