Properties for sale at Tras Street, Telok Ayer Street and Chuan Garden

By Nur Hikmah Md Ali

/ EdgeProp Singapore |

March 28, 2024 8:46 PM SGT

A portfolio of three shophouses at 50, 52 and 74 Tras Street are on the market for sale at $50.8 million (Photo: Savills Singapore)

Portfolio of three Tras Street shophouses for sale at $50.8 mil

A portfolio of three shophouses at 50, 52, and 74 Tras Street has been put up for sale by expression of interest. Located in the Tanjong Pagar district of the CBD, the three shophouses were refurbished sometime between 2020 and 2021 with modern specifications and fittings.

All the shophouses have 99-year leases from 1995, with remaining leases of about 70 years. The shophouses are three storeys plus a mezzanine. The one at 50 Tras Street occupies a land area of 1,517 sq ft, with a floor area of 4,500 sq ft. 52 Tras Street sits on a 1,500 sq ft site and has a floor area of 4,747 sq ft. The largest of the three is 74 Tras Street, which occupies a site of 2,068 sq ft and has a floor area of 5,705 sq ft.

The ground floor of 50 and 74 Tras Street have been approved for restaurant use, with the potential of 52 Tras Street obtaining the same, adds Yap. The ground floor of 50 Tras Street has been leased to Cumi Bali Indonesian Restaurant, while Haewon Korean Sashimi Restaurant occupies the ground floor of 74 Tras Street. The ground floor of 52 Tras Street has been leased to the bridal boutique My Dream Wedding. The upper floors of 50 and 74 Tras Street have been leased to beauty salons and offices, while 52 Tras Street has been leased to offices.

Yap Hui Yee, executive director of investment sales and capital markets at Savills Singapore, says all three shophouses are 100% leased and have a strong and stable income stream.

According to Savills, the shophouses can be purchased individually or collectively. The guide price of 50 Tras Street is $15.3 million ($3,400 psf based on floor area), the shophouse at 52 Tras Street has a price tag of $16.13 million ($3,398 psf) and 74 Tras Street at $19.39 million ($3,399 psf).

The EOI exercise closes on May 2 at 3pm.

The pair of conserved shophouses at 112 and 114 Telok Ayer Street for sale at $25 mil (Photo: PropNex ShophouseHuat)

Pair of 999-year leasehold conserved shophouses on Telok Ayer Street for sale at $25 mil

A pair of adjoining conservation shophouses at 112 and 114 Telok Ayer Street are up for sale via tender for $25 million. The 999-year leasehold, two-storey shophouses with mezzanine occupy site areas of 770 sq ft and 1,000 sq ft at 112 and 114 Telok Ayer Street, respectively.

The two shophouses have a combined site area of 1,770 sq ft and a total floor area of 3,800 sq ft. They have a 999-year lease from 1827. Therefore, the $25 million asking price translates to $6,579 psf, based on floor area.

The shophouses are zoned for commercial use which means that foreigners and corporate entities are eligible to purchase without paying additional buyer's or seller's stamp duty.

Located within the Telok Ayer Conservation Area in the CBD, the properties have approval for restaurant use on all floors and are both fully leased, says Loyalle Chin, director of PropNex ShophouseHuat and senior associate district director of PropNex Realty, who is marketing the property.

The properties are less than a minute's walk to the Telok Ayer MRT Station on the Downtown Line.

The last transaction in the Telok Ayer Conservation Area was the 999-year leasehold shophouse at 94 Amoy Street, which changed hands for $21.8 million ($7,000 psf based on floor area) in April 2023. Meanwhile, a shophouse at 5 Ann Siang Road was sold for $32 million ($8,514 psf based on floor area). Another recent transaction was that of three adjoining 99-year leasehold shophouses on Duxton Road that changed hands for $45 to $50 million ($4,914 psf based on floor area), reportedly sold to the wife of Alibaba co-founder founder Jack Ma.

The tender exercise for the shophouses on Telok Ayer Street will close on April 25 at 3pm.

The freehold, semi-detached house at Chuan Garden in Serangoon Gardens is for sale at $6 mil (Photo: ERA )

5-room semi-detached house at Chuan Garden selling at $6 mil

A semi-detached house along Chuan Garden in Serangoon Gardens, District 19, has been put up for sale at $6 million. The two-storey property sits on a 3,638 sq ft freehold plot with a built-up area of 4,500 sq ft. Based on the land area, the selling price translates to $1,650 psf.

Samuel Han, senior marketing director at ERA Realty Network, the marketing agent, says the property sits on a regular-shaped plot. The property has five bedrooms, two of which are ensuite. One bedroom is on the first level, and the other four are on the second.

The established private housing estate is near the famous Chomp Chomp Food Centre and within 1km of CHIJ Our Lady of Good Counsel Primary School, Zhonghua Primary School, Peicai Secondary School, and Serangoon Garden Secondary School.

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