Three adjoining shophouses in Joo Chiat up for sale
By Tan Chee Yuen
/ CBRE, The Edge Property |
Three adjoining conservation shophouses at 42, 44 and 46 Joo Chiat Road have been put up for sale via public tender, with a guide price of $28 million. The shophouses have a freehold land area of approximately 4,992 sq ft, and gross floor area of 14,820 sq ft.
Located within the Joo Chiat Conservation Area, the site is zoned for “Commercial” usage under the 2014 Master Plan with a plot ratio of 3.0. New extensions within the conservation guidelines are permitted up to a building height of five-storey.
Sammi Lim, Associate Director, Investment Properties, CBRE said, “The buyer has the option to purchase based on a leaseback structure or on a vacant possession basis. As such, this asset definitely caters to both investors and also owner-occupiers, who would like to occupy the premises as their corporate headquarters with building naming rights. Based on the guide price of $28 million, investors looking at an expected 4% return will find this an attractive and compelling purchase in the current market.”
The public tender exercise will close on November 4, 2016, at 3pm.
The subject property
Source: CBRE
Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp FacebookSubscribe to our newsletter
Top Articles
Search Articles