Ann Siang Road shophouse on sale for $13mil
With a land area of about 127 sq m (1,367 sq ft), the three-storey conservation shophouse has a built-up area of around 401.92 sq m (4,326 sq ft) and is going for approx $3,005 per sq ft (psf).
A three-storey conservation shophouse with basement at 18 Ann Siang Road has been launched for sale via expression of interest (EOI), with a guide price of $13 million or $3,005 per sq ft (psf) based on the property’s floor area.
Marketing agent Knight Frank revealed that the 999-year leasehold property is the last available unit of a trustees’ tranche of six commercial and one residential shophouse that were put on the market since October 2019.
With a land area of about 127 sq m (1,367 sq ft), 18 Ann Siang Road has a built-up area of around 401.92 sq m (4,326 sq ft). It is located within the Telok Ayer Conservation area, near the junction of Ann Siang Hill and Ann Siang Road. The shophouse is also 250 metres away from Maxwell MRT station.
Currently, the ground floor unit is leased to a food and beverage outlet, with the basement serving as a kitchen.
Mary Sai, Executive Director of Capital Markets (Land & Building, Collective & Strata Sales), Knight Frank Singapore, noted that the $13 million guide price is very attractive given that the locale “has its own charm and appeal to both investors and owner-occupiers”.
“Savvy buyers who have followed the shophouse market closely are fully aware of its potential for capital appreciation, as well as the possibility of renting the property out to multiple tenants for maximum rental income,” she said.
“Furthermore, the owners of some shophouses at nearby Club Street have been observed to be asking for more than $4,000 psf, which makes 18 Ann Siang Road an even more compelling offer,” she added.
And since shophouses are zoned commercial under the 2019 Master Plan, both locals and foreigners are eligible to acquire the property on offer with no Additional Buyer’s Stamp Duty and Seller’s Stamp Duty payable.
The EOI exercise for 18 Ann Siang Road closes on 21 December.
Source: CommercialGuru, 10 Dec 2020