Three shophouses put up for sale at $54 million

By Michael Lim / The Edge Property | March 3, 2017 10:37 AM SGT
A portfolio of three commercial shophouses in Holland Village, Chinatown and Kampong Glam have been put up for sale by public tender. The indicative price for all three properties is $54 million. According to CBRE, the appointed marketing agent for the properties, buyers have the option to either buy all three or purchase them individually.
The first property is a freehold two-storey corner shophouse located at Lorong Mambong in Holland Village. It sits on a corner site of 1,976 sq ft and has a built-up area of 3,354 sq ft. The shophouse enjoys dual road frontage and is currently tenanted by Harry’s pub on the ground floor and F45 fitness centre on the second level. The indicative price for the unit is $20 million.
Two-storey corner shophouse located at Lorong Mambong in Holland Village.
 - EDGEPROP SINGAPORE

Source: CBRE

The second property is a pair of two three-storey shophouses with an attic level located on Pagoda Street in Chinatown. The shophouses sit on two contiguous land lots, forming a combined rectangular site with a total land area of 3,010 sq ft and total builtup of 9,226 sq ft. They have a 99-year lease from October 1995 and are zoned for commercial use under the Kreta Ayer (Chinatown) historic district based on URA’s 2014 Master Plan.
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Two three-storey shophouses with an attic level located on Pagoda Street in Chinatown.
 - EDGEPROP SINGAPORE

Source: CBRE

The ground floors are tenanted to two retail shop operators and enjoy an immediate large catchment of tourists with a high footfall. The upper floors are leased to reputable multinational corporations in the advertising and media industries. The shophouses are located less than 50m from the Chinatown MRT Interchange Station and enjoy direct sheltered access to the station.
The indicative price for the pair of shophouses is $28 million.
The final property is a freehold two-storey conservation shophouse located along North Bridge Road in the heart of the Kampong Glam Conservation Area/Ophir-Rochor Corridor. It sits on a site area of 1,260 sq ft and has a total floor area of 1,900 sq ft. The property is zoned for full commercial usage under the 2014 Master Plan, within the Kampong Glam Conservation Area. The shophouse is fully tenanted. Its indicative price is $6 million.
Two-storey conservation shophouse located along North Bridge Road
 - EDGEPROP SINGAPORE

Source: CBRE

CBRE noted that, as all three properties are zoned as “commercial”, it is open to both local and foreign buyers with no Additional Buyer’s Stamp Duty or Seller’s Stamp Duty imposed on the purchase of the site.
The public tender exercise for all three properties closes on April 28.