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[Update] Row of three shophouses at Kreta Ayer Road up for sale at $49 mil

/ EdgeProp Singapore |

February 9, 2022 5:01 PM SGT

A row of three freehold, corner commercial shophouses at 47, 49, and 71 Kreta Ayer Road are on the market with a guide price of $49 million. (Photo: Savills Singapore)

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SINGAPORE (EDGEPROP) - A row of three freehold, corner commercial shophouses at 47, 49, and 51 Kreta Ayer Road are on the market with a guide price of $49 million.

Read also: Shophouse sales surge to all-time high of $1.9 bil in 2021: Knight Frank

Savills Singapore is the exclusive marketing agent for the property.

The three-storey shophouses are located on a combined land site of approximately 5,610 sq ft, with an estimated total built up area of around 11,613 sq ft. This translates to a psf price of $4,219, based on the floor area.

The shophouses sit on land zoned for commercial use. They also come with F&B approvals for the entire ground floor, which is currently tenanted by F&B operators. Meanwhile, the upper floors are currently leased to a diversified list of MNCs, says Savills. (Find Singapore commercial properties with our commercial directory)

Located at the junction of Keong Saik Road and Kreta Ayer Road, the shophouses also have 65m-wide dual-road frontages.

Yap Hui Yee, senior director, investment sales & capital markets at Savills Singapore, notes the rarity of having a row of three shophouses in the Keong Saik area on the market.

“Given the properties’ rarity and excellent attributes, coupled with the close proximity to the upcoming Maxwell MRT Station and Outram Park MRT Interchange Station, it is an exceptional opportunity to acquire a row of charming shophouses in an exciting and fast-growing precinct,” she comments.

The sale will be conducted through an expression of interest exercise which closes on March 15 at 3pm.

Check out the latest listings near Kreta Ayer Road, Keong Saik Road, Maxwell MRT Station, Outram Park MRT Interchange Station

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