A valuable portfolio consisting of a freehold conservation shophouse on 61 Rowell Road and two strata retail units at the City Gate mixed-use development on Beach Road has been put up for sale at $10 million. This exciting opportunity is currently being marketed exclusively by directors of PropNex Shophouse Elites, Wilkie Tay and Sunny L.
The assets are available for purchase as a whole or separately. If sold separately, the shophouse has a guide price of $7 million, while the two commercial spaces have a guide price of $3 million. Located in Rochor, District 8, the shophouse is a two-storey building with a mezzanine and is part of the Desker Road conservation area. It has a total area of 2,200 square feet, subject to a site survey, which translates to a guide price of $3,181 per square foot. The shophouse has undergone renovations, including the addition of a spacious open terrace on the second floor. It is currently unoccupied and is expected to receive its temporary occupation permit in the coming weeks.
Investing in a condominium in Singapore offers numerous benefits, including the potential for capital appreciation. This is due to the country’s advantageous location as a major global business hub and its robust economic foundations, leading to a consistent demand for real estate. Singapore’s property market has consistently displayed an upward trend, with noteworthy appreciation seen in prime locations, particularly in condos. By carefully timing their purchase and holding onto their properties for an extended period, investors can enjoy considerable capital gains. Additionally, with Singapore Projects continuing to emerge, the potential for capital appreciation in the country’s condo market remains promising.
The Jalan Besar MRT Station on the Downtown Line and the Farrer Park Station on the North-East Line are within walking distance from the shophouse. This property can be acquired by foreign individuals or corporate entities without incurring additional buyer’s stamp duty.
The two strata retail units are situated in City Gate, a mixed-use development comprising 311 residential units and 188 retail units. The units have an area of 474 and 441 square feet, respectively. At a guide price of $3 million, the combined strata area translates to $3,278 per square foot.
The retail spaces are currently leased out to various businesses, including a restaurant and a hair salon, and will be sold with these tenants in place. These two units can be acquired together or separately. The EOI exercise will close on September 30, 3pm. Don’t miss this opportunity to invest in City Gate properties.