Shophouse on Circular Road for sale at $19.8 mil
/ EdgeProp Singapore |
8 Circular Road (denoted by arrow) (Picture: CBRE)
SINGAPORE (EDGEPROP) - A 999-year leasehold shophouse at 8 Circular Road in the CBD is up for sale via an expression of interest (EOI) exercise. The three-storey property is situated in the Boat Quay Conservation Area and occupies a site measuring 1,080 sq ft that is zoned for commercial use. It has a built-up area of 3,082 sq ft, inclusive of a roof terrace measuring 180 sq ft.
According to marketing agent CBRE, the shophouse has a guide price of $19.8 million, which works out to $6,424 psf on its total built-up area. The property is currently fully tenanted with approved use as a nightclub on level 1, an office on level 2, and a restaurant on level 3.
The shophouse is located a five-minute walk from the Clarke Quay and Raffles Place MRT Stations.
“With a strong demand for shophouses in the CBD from family offices and high-net-worth individuals, this presents an opportunity to acquire a prime asset in an area with strong rental demand and a palatable quantum. The property’s 999-year tenure also makes it an ideal asset for wealth preservation,” remarks Joshua Giam, CBRE Associate Director of capital markets, Singapore.
Read also: Properties for sale for May 27-29
Recent transactions of commercial properties on Circular Road (Source: EgdePorp Research tool)
The EOI for 8 Circular Road will close on Aug 22 at 12pm.
Check out the latest listings near Boat Quay Conservation Area, Clarke Quay MRT Station, Raffles Place MRT Station
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