Two conservation shophouses on Craig Road up for sale for $31mil
Located within the Chinatown-Tanjong Pagar conservation area, the shophouses occupy a combined land of around 3,726 sq ft, working out to around $3,157 per sq ft based on an estimated total built up area of 9,817 sq ft.
Two conservation shophouses at 38 and 39 Craig Road have been launched for sale via expression of interest (EOI) with a total guide price of $31 million, revealed exclusive marketing agent Savills Singapore.
The price works out to around $3,157 per sq ft based on an estimated total built up area of 9,817 sq ft.
Featuring an attic, a terrace garden and a private courtyard, the pair of three-storey shophouses occupy a combined land of around 3,726 sq ft. The site, which is zoned for commercial use, is located within the Chinatown-Tanjong Pagar conservation area.
The shophouses underwent major refurbishment in 2017 and are fully tenanted, with tenants including a Michelin star restaurant on the ground floor as well as multinational corporations on the upper floors.
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Situated between the Duxton Hill and Keong Saik food and beverage enclave, the properties are within a few minutes’ walk to the upcoming Maxwell MRT station.
“This is a rare opportunity for buyers to purchase an exquisite pair of heritage shophouses that have been thoughtfully designed and equipped with excellent specifications,” said Yap Hui Yee, Director of Investment Sales & Capital Markets at Savills Singapore.
“Primely located near the junction of Neil Road and Craig Road, the immediate vicinity is undergoing rejuvenation with the opening of Shake Shack next door and the upcoming mixed-development consisting of retail and hotel on the former Chinatown Plaza site.”
Savills noted that foreigners and companies can acquire the properties, with no Additional Buyer Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) payable.
The EOI exercise for the shophouses closes on 8 December.
Source: CommercialGuru, 10 Nov 2020