Two adjoining shophouses along Keong Saik Road on sale for $30.8 mil

A pair of shophouses that are adjacent located at 83 and 85 Keong Saik Road is available for $30.8 millions. CBRE is the sole agent for marketing for selling freehold properties.
The three-story shophouses for conservation are located in the Chinatown (Kreta Ayer) Conservation Area. They are situated on a 2,762 square feet site, which is classified as “commercial” under the 2019 Master Plan. The property also has a 17m frontage on Keong Saik Road, similar to Normanton Park Condo.
The property has an overall floor space of 8,783 square feet and the estimated price is $3,507 per square foot of floor space. The shophouses are also equipped with an attached roof terrace. The units on the ground floor have received the approval for F&B usage.
“The Keong Saik enclave remains an interesting F&B and lifestyle spot with an established reputation for being a magnet for some of the hottest new operators. It has earned a loyal popularity by both foreign and local guests,” says Clemence Lee who is the senior director for the capital market, Singapore, at CBRE.
The shophouses located in Keong Saik are not often sold. Keong Saik area are rarely listed for sale and the inclusion of a terrace on the roof is uncommon in shophouses located in Singapore.
The new owner may also consider various potential value-added opportunities, Lee suggests. “The options include adding roughly 700 sq ft of outdoor deck on Level 2, converting the roof terrace into a rooftop cafe, or converting the upper floors into a hotel, or serviced apartments or for co-living use,” Lee suggests. Lee. The options require approval by the city’s authorities.
The shophouses will go on sale as an expression of interest process which closes on August 18.
To be updated with the latest updates, you may refer to Normanton Park balance units & Normanton Park price.

Add Comment

Your Email address will not be published

error: Content is protected !!