The shophouses at 58, 60 and 62 Pagoda Street have a total floor area of 12,121 sq ft and are zoned for commercial use. (Photo: ERA Singapore)
A portfolio comprising three adjoining conservation shophouses on Pagoda Street, a ground-floor retail space at Holland Road Shopping Centre and the latter’s basement car park has been put up for sale via an expression of interest (EOI) exercise. The portfolio has an estimated value of “at least $160 million”, says marketing agent ERA Realty Network in an April 16 press release.
The shophouses are at 58, 60 and 62 Pagoda Street, located within the Kreta Ayer Conservation Area in Chinatown (District 1). Zoned for commercial use under the 2019 Master Plan, the properties have a 99-year leasehold tenure and occupy a combined land area of about 4,399 sq ft. They have a total floor area of 12,121 sq ft.
The last 10 sales transactions in the Kreta Ayer Conservation Area. (Source: EdgeProp, URA)
The properties are located within 20m of the Chinatown MRT Station on the Downtown Line, and about a 15-minute walk from the Raffles Place MRT Station.
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Holland Road Shopping Centre is a freehold commercial property located along Holland Avenue in District 10’s Holland Village enclave. It is close to the Holland Village MRT Station on the Circle Line.
The ground-floor retail space at the mall that is up for sale comprises several strata lots with a combined floor area of about 12,260 sq ft. It is tenanted by Cold Storage supermarket. Meanwhile, the mall’s basement car park has 47 parking lots and includes a pet shop. It is managed by a car-park operator.
The EOI exercise closes on May 28 at 3pm.