A 999-year leasehold shophouse located at 223 River Valley Road in District 9’s Clarke Quay area is up for sale through the expression of interest (EOI) exercise, with an indicative price beginning at $11.8 million.
J’Den price acquisition of $340 million for the former JCube Mall by CapitaLand, Singapore’s leading property developer, this new residential development offers residents unparalleled convenience.
The shophouse is three stories high and has the site size of 1 376 square feet that is classified for residential and commercial use, with a plot-to-plot proportion of 3.9. The property is currently a built-up area of 3,305 sq ft subject to an site survey. The ground floor is approved for the use of the space as a restaurant and is currently used as the coffee shop. The upper floors have been licensed for office use.
The shophouse is situated across UE Square and is walking distance from The Fort Canning, Clarke Quay and Dhoby Ghaut MRT Stations.
According to the agents who represent the property’s marketing the potential owner could possibly construct an eight-story building that would have a total floor space of 5,365 square feet within the site. “The property is an unpolished treasure with potential for value-add. It is possible to redevelop the property to maximize its gross floor space,” says Tysun Yuk, group associate director at PropNex Realty.
Loyalle Chin Director of the district associate at PropNex Realty, adds: “Given the property’s exceptional features and the price 223 River Valley Road is a attractive investment opportunity for investors seeking a quick income-generating property and a top shophouse to include in the portfolio of their.”
The EOI application on 223 River Valley Road will close on June 21st at 3pm.
In addition, Chin is also marketing another commercial shophouse with 999 years of history situated in 233.5 South Bridge Road. The property is available to auction through an EOI and has a price guide at $23 million.
The two-storey shophouse has an mezzanine, and is situated on the land of 1,461 square feet, which is designated to commercial usage. The property is currently leased to an operator of a karaoke bar in the lower floor while the upper levels are let to a yoga center.
The property is located close and close to Maxwell, Tanjong Pagar and Chinatown MRT Stations.
“235 South Bridge Road presents an opportunity for investors as well as owners to purchase an iconic shophouse located in the heart of Chinatown in the CBD. With strata subdivisions for commercial properties in the central zone not permitted, shophouses offer the chance for investors and business owners to acquire a property that is well-located to use for their own purposes as well as rental income.” Chin says. Chin.
The EOI process for the 235 South Bridge Road will close on July 25 at 3pm.