With powerful demand for shophouses last year, the start of the year saw the latest ton of these investment properties up for sale.
A pair of conservation shophouses at Tras Street at Tanjong Pagar is around the market with a direct price of $12 million to its larger land and $10.8 million to the smaller unit. This works out to about $2,800 a sq feet for each shophouse, only marketing agent CBRE announced yesterday.
For official project details, floor plans, showflat appointment to be obtained at Kopar at Newton official website.
They are a brief walk from Tanjong Pagar MRT station, and entirely leased to food and beverage (F&B) operators around the ground floor and small office/home office customers around the top floors, said CBRE.
Present transactions of 99-year leasehold shophouses comprise 34, 36 and 38 Tanjong Pagar Road, that marketed jointly last month at about $16.4 million ($3,000 per sq feet ); and 76 Pagoda Street, that sold at July at $13.3 million ($3,500 per sq feet ), added CBRE.
The two shophouses can be purchased individually or together, and are on sale via an expression of interest exercise closure on Feb 12 at 3pm.
Their direct prices start from $9.9 million to its East Coast shophouse and out of $4.98 million to the Geylang home, marketing agent PropNex Realty said yesterday.
The exercise for the two possessions closes at 3pm on Jan 30.
The shophouse at 711 East Coast Road has a student hostel permit, which allows accommodation facilities for pupils in primary and secondary schools, junior schools and tertiary institutions, PropNex said.
The East Coast shophouse is leased to a retail shop on the ground floor and into a student hostel operator on the top floors.
The corner shophouse at 35 Geylang Lorong 11 has a present plot ratio of about 1.8 and an allowable gross plot ratio of 3.0, which provides it redevelopment potential.
The two-storey shophouse has complete tenancy, using its floor storey approved for F&B operations using a liquor permit, while the top floor is used for home.
The owner expects to”sell fast” as the family attempts to divest the asset for personal reasons, said PropNex associate manager Loyalle Chin.