Five shophouses, three retail units at Bukit Timah Plaza on sale for $33.3mil

The shophouses and retail units can be purchased together as a portfolio or individually, albeit SRI did not provide their individual prices. Image: Google Maps

Five shophouses along Tras Street, Balestier Road and North Bridge Road as well as three adjoining retail units at Bukit Timah Plaza have been put up for sale with a combined indicative price of $33.3 million, reported The Business Times (BT) citing exclusive marketing agent SRI Capital Market.

The shophouses and retail units can be purchased together as a portfolio or individually, albeit SRI did not provide their individual prices.

The shophouse at Tras Street has a total floor area of around 5,283 sq ft. It occupies a 1,994 sq ft site that comes with a leasehold tenure of 99 years. Under the Urban Redevelopment Authority’s 2019 Master Plan, the site is zoned for commercial use.

Located near Tanjong Pagar MRT station, the three-storey conservation shophouse features an attic and is fully tenanted.

“Shophouses along Tras Street are coveted and tightly held,” said SRI as quoted by BT. In fact, a nearby shophouse at 48 Tras Street was sold this month for nearly $9.9 million, noted the agent.

The two freehold shophouses at Balestier Road have an existing gross floor area of around 5,422 sq ft.

Located across the Zhongshan Park and Zhongshan Mall, the pair fall within the Balestier Secondary Settlements. They occupy a 3,890 sq ft site that is zoned for residential and commercial use, with a 3.0 gross plot ratio.

Under the conservation guidelines, the buyer of the two shophouses can build the properties’ rear extension up to six storeys, with a maximum gross floor area of around 11,670 sq ft, subject to the approval of the authorities.

Also part of the portfolio is a pair of shophouses along North Bridge Road, which come with a gross floor area of around 3,876 sq ft. The freehold shophouses spans a land area of around 2,445 sq ft and are zoned for commercial uses.

Located within the Kampong Glam historic district, the two-storey shophouses come with a mezzanine level and are both fully tenanted.

Meanwhile, the trio of retail units at Bukit Timah Plaza can be found at the mall’s basement level. Offering a total strata area of around 1,322 sq ft, the retail units are fully tenanted.

Bukit Timah Plaza is about five minutes’ walk from Beauty World MRT station.

The expression of interest for the shophouses and retail units closes on 5 January 2021.

Source: CommercialGuru, 18 Nov 2020