Two freehold shophouses along Kampong Bahru Road for sale at $13m and $13.65m

The properties occupy a land area of 2,343 sqft with an estimated GFA of 5,947 sqft.

A pair of freehold two-storey shophouses with attic along Kampong Bahru Road have been launched for sale via an expression of interest (EOI) exercise with an indicative price between $13m and $13.65m, an announcement by marketing agent JLL revealed.

The freehold property occupies a land area of 2,343 sqft and has an estimated gross floor area (GFA) of 5,947 sqft. Under the 2014 Master Plan, the land is zoned “Commercial” and is located within the Blair Plain Conservation Area. The guide prices for 69 and 71 Kampong Bahru Road translates to $2,200 to $2,300 psf, respectively.

The ground floor is leased to a Cheers convenience stall and a pub whilst the upper floors are leased to office tenants, JLL noted. The pub unit comes with rare KTV approval and both Public Entertainment and Liquor License.

“With the upper floor leases running on a year-to-year basis, the property offers owner-occupiers an opportunity to acquire a prominent property with high visibility for their own use,” JLL’s senior director Clemence Lee said in a statement.

As the property sits on land zoned for commercial use, foreigners are eligible to purchase the property. There is also no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) imposed on the purchase of the property.

The EOI exercise closes on 4 April 2019 at 3 p.m.