SINGAPORE, 21 OCT 2020 – EDMUND TIE, the sole marketing agent for the sale of 262, 264 and 266 River Valley Road, is pleased to offer three adjoining shophouses for sale via an Expression of Interest exercise.
Located on a prominent corner plot along River Valley Road and commanding a 18-metre wide frontage, the three shophouses sit on a combined land area of 343.9 sq m (approximately 3,702 sq ft) and have a total built-up area of around 815.5 sq m (approximately 8,778 sq ft). Under the URA Master Plan 2019, the shophouses are zoned for “Residential with Commercial at 1st Storey” use at plot ratio 2.8 and have an allowable building height of up to 4 storeys.
The subject properties enjoy a strategic location within prime District 9. A myriad of amenities can be found within the vicinity, such as shopping malls, schools and eateries. Conveniently located 350 metres away from Fort Canning MRT station on the Downtown Line, the shophouses are also within 800 metres from two other MRT stations – Dhoby Ghaut MRT interchange and Somerset MRT station. They are about 10 minutes’ drive to the Central Business District (CBD), 5 minutes’ drive to Orchard Road and a short walk away to Robertson Quay and Clarke Quay.
The redevelopment of the current Liang Court site into a new integrated development will inject more vibrancy to the Singapore River and its surrounding areas, further anchoring its image as an exciting waterfront precinct and lifestyle destination. Together with the Urban Redevelopment Authority’s plans to revitalize Orchard Road under Master Plan 2019, the attractiveness of the property’s location will be further enhanced.
Executive director of investment advisory, Tan Chun Ming, said: “All three shophouses are fully tenanted and are hence well-suited for investors seeking immediate income.”
“Unlike many shophouses in prime districts which are under conservation, the subject properties fall within a non-conservation area,” he added. “This is therefore a rare opportunity to purchase freehold shophouses in prime districts without the constraints of conservation regulations. The purchaser can explore carrying out additional and alteration works to maximize the plot ratio, or consider the redevelopment of the properties into a mixed-use development or serviced apartments, subject to authorities’ approval.”
The indicative guide price for the shophouses at 262, 264 and 266 River Valley Road is $2,500 per sq ft on the built-up area. 262 & 264 River Valley Road and 266 River Valley Road, each with individual land titles, can be purchased separately.
The Expression of Interest exercise for the property will close on Wednesday, 2 December 2020 at 3pm.
For further information, please contact:
Wong Wei Chen
Senior Manager, Corporate Communications
O: +65 6393 2369