Adjoining South Bridge Road shophouses for sale at $28 mil
By Timothy Tay
/ EdgeProp |
A pair of adjoining shophouses at 273 & 275 South Bridge Road is available for sale by Expression of Interest, according to Savills Singapore and Cushman & Wakefield, who are jointly marketing the property.
The 999-year leasehold property has a land area of 3,089 sq ft, and a total floor area of about 10,027 sq ft. They are both three-storey conservation shophouses with attics. According to the marketing agents, the guide price is $28.5 million, which translates into $2,842 psf. The first floor is a shop, while the other floors and attic are office space.
Located in the Chinatown Conservation Area, the property is zoned ‘Commercial’ under the 2014 Master Plan. According to the marketing agents, alternative uses for the property like restaurants or F&B are subject to the relevant authorities’ approval. The new owner will have to make a change-of-use application for the authorities’ evaluation.
The property is adjacent to the Eu Yan Sang flagship store and directly opposite Chinatown Food Street and Smith Street. It is a 10 min walk to Raffles Place, Robinson Road, and Tanjong Pagar.
According to the marketing agents, the property is likely to appeal to end-users like SMEs or companies seeking to establish a corporate HQ. As well as private equity funds or investors looking to expand their portfolio in investment-grade assets.
Credit: Cushman & Wakefield
The upcoming Maxwell MRT station is a three-minute walk from the property, and Chinatown and Telok Ayer stations are also within walking distance.
The EOI will close on Oct 24.
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