SINGAPORE (EDGEPROP) - A conservation shophouse located at 14 Ann Siang Road in District 1’s Chinatown area is up for sale via an expression of interest (EOI) exercise with a guide price of $22 million. The 999-year leasehold property is a three-storey shophouse with a basement with a land area of 1,259 sq ft zoned for commercial use.

According to marketing agent PropNex Shophouse Elites (a division under PropNex Realty), the property has an estimated gross floor area (GFA) of 3,459 sq ft, which means the guide price works out to $6,360 psf on the GFA.

The ground floor has approval for F&B use and is currently leased to an F&B operator, along with the basement, which serves as a kitchen. The upper floor is being used as a retail space and offices. The property is well-maintained and requires minimal refurbishments, says Richard Tan, founder of PropNex Shophouse Elites.

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The shophouse is a 3-minute walk from the Maxwell MRT Station (Thomson-East Coast Line) and an 8-minute walk to the Chinatown MRT Station (Downtown and North-East Lines)

“Commercial conservation shophouses, particularly in prime districts, are highly sought after by investors as they are rarely available and tightly held,” notes Tan. “We have been seeing strong demand from family offices and high-net-worth individuals who have followed the shophouse market closely aware of its potential for capital appreciation, as well as the possibility of renting the property to multiples tenants for maximum rental income.” (Find Singapore commercial properties with our commercial directory)

The EOI exercise for 14 Ann Siang Road will close on July 7 at 3pm.

Check out the latest listings near Ann Siang Road, Maxwell MRT Station, Chinatown MRT Station

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