Two adjoining commercial 5-storey shophouses at North Canal Road for sale at $45 mil
Ever since it is zoned as a commercial property following the Urban Redevelopment Authority (URA) Master Plan 2019, foreigners and business are qualified to buy it without Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) applicable on the transaction. Additionally, the possession’s land tenure was increased to 99 years, commencing from 2024.
The property is found in prime District 1, inside the Upper Circular Road Sanctuary, and sits on a property area of 3,208 sq ft. The guide rate of $45 million convert to $3,340 psf based on the gross floor area (GFA).
The EOI exercise are going to end on 12 November, 3pm.
Yap Hui Yee, executive director of financial investment sales & funding markets at Savills Singapore, includes that “new standalone commercial structures in the CBD are extremely uncommon, offering an one-of-a-kind opportunity for clients and occupants to secure a prestigious CBD address with full naming and signage rights.”
River Modern River Valley Green
A pair of nearby 5-storey shophouses at 30 & 31 North Canal Roadway are up for sale through expression of interest (EOI) with an asking price of $45 million, according to CBRE and Savills, the shared outstanding advertising agents for these real estates.
” This property presents a chance to purchase a prime place where large shophouse assets of comparable profile are extremely limited in supply,” claims Michael Tay, deputy managing executive at CBRE Singapore.
Situated within the Central Business District (CBD), it is a quick five-minute stroll from Clarke Quay and Chinatown MRT on the North-East Line, and the Raffles Place MRT terminal on the East-West and North-South Line. Heavy tramp is expected with many amenities in the area, such as dining establishments, bars, boutique accommodations and fitness studios.
The estates have a mixed GFA of 13,472 sq ft and a plot ratio of 4.2 following renovations, wherein interiors were renewed and the mezzanine was extended to increase the permitted plot proportion. Many other today’s upgrades featured lift access to all grounds, regular and reliable floor plates and a roof balcony overlooking Hong Lim Park and the city horizon. It provides high-visibility front view throughout the busy North Canal Road, an opportunity for companies to set up their brand presence.
