Rare three-storey conservation shophouse along North Canal Road up for sale at $16.8 mil
Zoned for commercial use, the property has a total built-up area of about 3,154 sq ft (Photo: Savills Singapore)
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A 999-year leasehold conservation shophouse at 8 North Canal Road has been put up for sale through an expression of interest (EOI) with a guide price of $16.8 million. The three-storey shophouse, which includes an attic, has a total built-up area of about 3,154 sq ft. This translates to a price of $5,327 psf.
Located in District 1, the shophouse occupies a land area of 953 sq ft, which is zoned for commercial use. According to Savills Singapore, the exclusive marketing agent for the property, the shophouse has been “meticulously maintained”, and retains its original façade and traditional building layout.
The property allows for a range of commercial uses, such as F&B, retail, office, or wellness concepts, offering potential for value enhancement, says Yap Hui Yee, executive director of investment sales and capital markets at Savills Singapore.
Situated within the Raffles Place financial and conservation districts, the property is located near a mix of heritage shophouses, commercial office buildings and several F&B offerings. It is also within close proximity to several landmarks, including OCBC Centre, UOB Plaza, One Raffles Place, CapitaSpring and Boat Quay.
The shophouse is within walking distance to Raffles Place MRT Interchange Station and Clarke Quay MRT Station, providing connectivity to the Central Business District (CBD).
“Shophouses along 8 North Canal Road have always formed a lively and tightly held stretch,” adds Yap. “Its strategic location and proximity to major financial institutions further enhance its appeal as a prestigious investment opportunity in the heart of the CBD.”
The EOI will close on Dec 5 at 3pm.
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