Savills Singapore has recently launched an expression of interest (EOI) for a two-storey commercial shophouse located at 15 Ann Siang Road. The 999-year leasehold property boasts a plot size of approximately 1,302 sq ft and an estimated gross floor area of 2,476 sq ft. Priced at $12.38 million, the guide price equates to $5,000 psf based on the floor area.
According to EP Buddy, the latest commercial transactions along Ann Siang Road have been tabulated, with data sourced from URA and EdgeProp Singapore. The ground floor unit of this shophouse is currently leased to a F&B outlet, while the upper floor is predominantly unused. Savills has indicated that the tenancy agreement for the ground floor unit will expire soon, making this an attractive opportunity for potential buyers to exercise a rent review.
The property is zoned for commercial use and situated within walking distance to Maxwell MRT Station along the Thomson-East Coast Line, Telok Ayer MRT Station along the Downtown Line, and Chinatown MRT Interchange serving the North East and Downtown Lines. Foreign buyers and corporate entities are eligible to purchase the shophouse without incurring additional buyer’s stamp duty.
Executive director of investment sales and capital markets at Savills Singapore, Yap Hui Yee, describes this as an exceptional opportunity for buyers to acquire a valuable asset in a dynamic district, with a reasonable quantum. She adds that it presents a great option for owner-occupiers, such as family offices seeking to purchase a commercial property for their own office needs, or investors looking for a stable rental income stream.
When it comes to investing in condos in Singapore, there are several factors that investors need to carefully consider. This is because the Singaporean government has put in place a series of property cooling measures that aim to regulate the real estate market and discourage speculative buying. One of these measures is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and individuals who purchase multiple properties. While these measures may initially impact the profitability of condo investments, they ultimately contribute to the long-term stability of the market and create a secure investment environment. Additionally,
The EOI for 15 Ann Siang Road will close on October 30. EP Buddy’s database also offers information on past commercial sale and rental transactions, price trends, and available listings for commercial and industrial properties for comparison.