Two adjoining commercial 5-storey shophouses at North Canal Road for sale at $45 mil
Yap Hui Yee, executive manager of financial investment sales & funding markets at Savills Singapore, includes that “brand-new standalone industrial structures in the CBD are exceedingly unusual, providing an unique chance for capitalists and occupiers to obtain a respected CBD address with full naming and signage rights.”
Located within the Central Business District (CBD), it is a quick 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 step is expected with several amenities in the location, such as dining establishments, bars, boutique hotels and fitness studios.
” This property offers an opportunity to purchase a prime area where substantial shophouse assets of similar profile are extremely restricted in supply,” claims Michael Tay, sub managing director at CBRE Singapore.
The EOI activity are going to end on 12 November, 3pm.
Since it is zoned as a business building under the Urban Redevelopment Authority (URA) Master Plan 2019, immigrants and business are eligible to purchase it with no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) suitable on the purchase. Furthermore, the asset’s land tenure was increased to 99 years, commencing from 2024.
The asset is situated in top District 1, inside the Upper Circular Road Conservation Area, and sits on a property area of 3,208 sq ft. The guide cost of $45 million translates to $3,340 psf based upon the gross floor area (GFA).
The Arcady @ Boon Keng condominium
A pair of surrounding 5-storey shophouses at 30 & 31 North Canal Road are up for sale by means of expression of interest (EOI) with an asking price of $45 million, according to CBRE and Savills, the mutual exclusive advertising and marketing agents for these real estates.
The estates have a combined GFA of 13,472 sq ft and a plot ratio of 4.2 following remodellings, where interiors were overhauled and the mezzanine was expanded to maximise the allowable plot ratio. Many other current enhancement included lift connection to all floors, regular and effective floor plates and a roof balcony overlooking Hong Lim Park and the city sky line. It presents high-visibility front view along the busy North Canal Road, an opportunity for services to develop their brand visibility.
