Two adjoining commercial 5-storey shophouses at North Canal Road for sale at $45 mil
The property is situated in top District 1, within the Upper Circular Road Sanctuary, and sits on a land area of 3,208 sq ft. The guide cost of $45 million equate to $3,340 psf based upon the gross floor area (GFA).
The real estates have a mixed GFA of 13,472 sq ft and a plot ratio of 4.2 following improvements, wherein interiors were renewed and the mezzanine was expanded to maximise the permitted plot ratio. Other current enhancement included lift access to all levels, regular and reliable floor plates and a roof balcony overlooking Hong Lim Park and the city horizon. It offers high-visibility frontage around the busy North Canal Road, an opportunity for businesses to establish their company existence.
The EOI exercise are going to finish on 12 November, 3pm.
” This asset presents an opportunity to invest in a prime place where substantial shophouse assets of similar account are extremely restricted in supply,” claims Michael Tay, deputy regulating executive at CBRE Singapore.
Yap Hui Yee, executive director of investment sales & capital markets at Savills Singapore, includes that “brand-new standalone business buildings in the CBD are extremely unusual, providing an unique chance for investors and occupiers to obtain a prestigious CBD address with complete naming and signage rights.”
Situated inside the Central Business District (CBD), it is a short five-minute walk from Clarke Quay and Chinatown MRT on the North-East Line, and the Raffles Place MRT terminal on the East-West and North-South Line. Heavy tramp is expected with many amenities in the location, such as restaurants, bars, boutique hotels and fitness studios.
A set of nearby 5-storey shophouses at 30 & 31 North Canal Roadway are up for sale through expression of interest (EOI) with a seeking rate of $45 million, according to CBRE and Savills, the shared outstanding advertising agents for these real properties.
Ever since it is zoned as a business real estate following the Urban Redevelopment Authority (URA) Master Plan 2019, immigrants and companies are qualified to purchase it without having Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) relevant on the purchase. Furthermore, the possession’s land tenure was increased to 99 years, starting from 2024.
