Shophouses at Upper East Coast Road, Tanjong Katong Road and Jalan Besar up for sale

By Tan Chee Yuen / Colliers International, CBRE, The Edge Property | July 15, 2015 11:33 AM SGT
Two strata commercial units on the ground floor of two-storey shophouses at 1 and 1B Figaro Street, and a two-storey corner shophouse at 362 Tanjong Katong Road are being put up for sale in Colliers International’s upcoming auction.
The indicative price for the 1 and 1B Figaro Street strata units is $6.9 million or $1,833 psf. Their floor area is approximately 2,203 and 1,560 sq ft, respectively. Both have a 9,999-year leasehold tenure. 1 Figaro Street has obtained permanent approval for F&B use. The two units currently command a combined rent of $24,000 per month, which translates into a gross yield of approximately 4.17%.
Separately, a shophouse at 362 Tanjong Katong Road is being put up for sale with an indicative price of $6.6 million or $3,259 psf based on land area of 2,025 sq ft. The freehold property is zoned for “Residential with Commercial at 1st Storey”, with a plot ratio of 3. Under the conservation guidelines, a rear extension of up to four storeys is allowed.
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Also in the market are three adjoining two-storey shophouses at 138 to 142 Jalan Besar. CBRE is marketing the property via expression of interest. They have a combined land area and gross floor area of approximately 4,353 sq ft and 9,719 sq ft, respectively. The freehold property is zoned for commercial use.
1 and 1B Figaro Street ground floor units
362 Tanjong Katong Road
138 to 142 Jalan Besar