Two conservation shophouses at Clarke Quay on sale for $6.2mil each

The three-storey shophouse on 13 New Bridge Road occupies a 120.3 sq m (1,295 sq ft) site and a gross floor area of 289.8 sq m (3,119 sq ft), while the four-storey 15 New Bridge Road shophouse sits on a 123.2 sq m (1,326 sq ft) site and a total floor area of 359.0 sq m (3,864 sq ft).

Two adjoining conservation shophouses at 13 and 15 New Bridge Road have been put up for sale with a guide price of $6.2 million per shophouse.

Situated within the Upper Circular Conservation Area, the 99-year leasehold shophouses are near the Clarke Quay MRT station, directly opposite The Central, and can be sold separately, revealed sole marketing agent Edmund Tie.

Occupying a 120.3 sq m (1,295 sq ft) site, the three-storey shophouse at 13 New Bridge Road comes with an open roof terrace and has a gross floor area (GFA) of 289.8 sq m (3,119 sq ft).

Edmund Tie noted that written permission has been granted by the Urban Redevelopment Authority (URA) to raise the total GFA to 501.23 sq m (5,395 sq ft).

It added that the incoming buyer can also apply for lease top-up to a fresh 99 years, subject to the approval of authorities. The shophouse is being sold with vacant possession.

The four-storey shophouse at 15 New Bridge Road, on the other hand, occupies a 123.2 sq m (1,326 sq ft) site and has a total floor area of 359.0 sq m (3,864 sq ft).

“Subject to authorities’ approval, the prospective buyer can consider increasing the gross floor area up to 517.4 sq m (approximately 5,570 sq ft) by constructing a six-storey rear extension and top up the lease to a fresh 99 years,” said Edmund Tie.

Currently, the property’s ground floor is leased to a café while the upper floors “will be sold with vacant possession”.

The marketing agent explained that the $6.2 million guide price excludes the premium payable for lease renewal.

And since the properties are zoned commercial, both locals and foreigners can acquire the shophouses with no Additional Buyer’s Stamp Duty or Seller’s Stamp Duty payable. 

“The sale of 13 and 15 New Bridge Road presents a valuable opportunity for incoming buyers looking to own a prime asset within District 1, and carry out enhancement works to maximise the potential of the property,” said Tan Chun Ming, Executive Director of Investment Advisory at Edmund Tie.

Source: CommercialGuru, 6 Nov 2020