3 commercial shophouses in district 1 & 2 launched for sale

The shophouses are located in the popular, hipster areas of Ann Siang and Keong Siak.

Knight Frank Singapore has been appointed by a trust company to offer a portfolio of 3 conservation shophouses for sale via expression of interest (EOI), for $30.5m, according to a press release. The properties can be purchased individually or as a portfolio.

The commercial shophouses are located within District 1 and 2, at Ann Siang Road and Keong Saik Road respectively. The EOI for all 3 shophouses will close on 26 August..

All 3 shophouses are zoned “commercial” under the Master Plan 2019. As the shophouses are commercial properties, the sale is open to both locals and foreigners, with no additional buyer’s stamp duty and seller’s stamp duty imposed on the purchase of the properties.

13 & 18 Ann Siang Road are 999-year leasehold shophouses which are prominently located near the junction of Ann Siang Road and Ann Siang Hill. The 2 intermediate shophouses are also within the Telok Ayer Conservation Area and are near the upcoming Maxwell MRT station.

13 Ann Siang Road is a 2-storey shophouse with an attic and has a land area of approximately 116.1 sqm or approximately 1,250 sqft and built-up area of approximately 229.3 sqm or approximately 2,468 sqft.

On the other hand, 18 Ann Siang Road is a 3-storey shophouse with a basement and has a land area of approximately 127 sqm or approximately 1,367 sqft and built-up area of approximately 401.92 sqm or approximately 4,326 sqft. The ground floor unit which is currently leased to an F&B outlet, has a basement which serves as a kitchen.

The guide prices for 13 Ann Siang Road and 18 Ann Siang Road are $8.5m and $13m, respectively.

Meanwhile, 3 Keong Saik Road is a 3-storey corner shophouse off Neil Road, in the Bukit Pasoh Conservation Area. The Working Capitol currently operates co-working spaces in the adjacent block of shophouses. The property is also within walking distance to Outram Park MRT interchange.

The shophouse has a land area of approximately 119.61 sq m (approximately 1,287 sq ft) and built-up area of approximately 300.64 sq m (approximately 3,236 sq ft) and is priced for $9m.

Knight Frank Singapore’s head of capital markets (land and building, collective and strata sales) Ian Loh notes that both freehold and 999-year leasehold shophouses in prime Districts 1 and 2 are usually tightly held, with less than 30 transactions per year over the last 7 years.

“The opportunity to acquire such splendid, conserved properties and own a little piece of Singapore’s heritage is hard to come by, particularly given its central location,” he added.