>

Two conservation shophouses at Clarke Quay up for sale at $6.2 mil each

By Valerie Kor

/ EdgeProp Singapore |

November 5, 2020 3:40 PM SGT

SINGAPORE (EDGEPROP) - Two conservation shophouses in the Upper Circular Conservation Area at Clarke Quay have just been put on the market for sale. Both 99-year leasehold, they can be sold separately or as a pair. The shophouses are exclusively marketed by Edmund Tie and have an indicative price of $6.2 million each, excluding the premium payable for lease renewal.

13 New Bridge Road is a three-storey shophouse with a land aea of around 1,295 sq ft and a gross floor area (GFA) of 3,119 sq ft. It has an open roof terrace. It has a written permission by URA to increase the total GFA to 5,395 sq ft. The potential buyer can apply for a lease top-up to a fresh 99 years, subject to authorities’ approval. It will be sold with vacant possession.

15 New Bridge Road is a four-storey shophouse with a land area of 1,326 sq ft. The total floor area of the shophouse is 3,864 sq ft. The GFA can be increased to 5,570 sq ft by having a six-storey rear extension, subject to authorities’ approval. Currently, the shophouse is being tenanted by a cafe on the ground floor, and the upper floors will be sold with vacant possession.

The shophouses are a three-minute walk from Clarke Quay MRT Station. Being in the vicinity of The Central, The Riverwalk and Singapore River, they enjoy high footfall and are suitable for F&B usage or as office spaces, subject to authorities’ approval. Additionally, they may benefit from new developments such as Funan Mall and the upcoming integrated development at the current Liang Court site, according to Edmund Tie.

“The sale of 13 and 15 New Bridge Road presents a valuable opportunity for buyers looking to own a prime asset within District 1 and carry out enhancement works to maximise the potential of the property,” says executive director of investment advisory at Edmund Tie, Tan Chun Ming.

The shophouses are zoned “Commercial”, with a plot ratio of 4.2. They are not subject to additional buyer's stamp duty or seller's stamp duty, and are eligible for purchase by foreigners or locals.

Tags: