Two conservation shophouses at Clarke Quay up for sale
  • Investment Advisory
  • 06 November 2020

Two conservation shophouses at Clarke Quay up for sale

SINGAPORE, 5 November 2020 – EDMUND TIE, the sole marketing agent for the sale of 13 and 15 New Bridge Road, is pleased to offer two adjoining conservation shophouses for sale via private treaty. The two 99-year leasehold shophouses can be sold separately.

Under the URA Master Plan 2019, the two shophouses are zoned for “Commercial” use at plot ratio 4.2. They are located within the Upper Circular Conservation Area, and rear extension of up to six storeys can be allowed.

The property at 13 New Bridge Road is a 3-storey shophouse with an open roof terrace. It has a land area of 120.3 sq m (approximately 1,295 sq ft) and gross floor area of 289.8 sqm (approximately 3,119 sq ft). Written permission has been granted by URA to increase the total gross floor area to 501.23 sqm (approximately 5,395 sq ft). The incoming buyer can consider applying for lease top-up to a fresh 99 years, subject to authorities’ approval. In-principle approval for lease top-up was previously granted by the authorities, setting a precedent that approval may be granted again. The shophouse will be sold with vacant possession.

The property at 15 New Bridge Road is a 4-storey shophouse with land area of 123.2 sq m (approximately 1,326 sq ft). The total floor area of the shophouse is 359.0 sq m (approximately 3,864 sq ft). Subject to authorities’ approval, the prospective buyer can consider increasing the gross floor area up to 517.4 sqm (approximately 5,570 sq ft) by constructing a 6-storey rear extension and top up the lease to a fresh 99 years. The ground floor is currently leased to a café and the upper floors will be sold with vacant possession.

The two shophouses are strategically located within the highly accessible District 1, and have high visibility along the main thoroughfare of New Bridge Road. With Clarke Quay MRT station at the doorstep, they enjoy excellent accessibility and are a short walking distance away from Clarke Quay, Boat Quay and Raffles Place.

Located directly opposite The Central, the two shophouses attract high foot fall from the surrounding areas. As the subject properties are located within the vibrant Clarke Quay district and near to the CBD, they are well suited for a variety of uses such as F&B establishments and offices, subject to authorities’ approval. They also stand to benefit from the buzz generated from new developments in the vicinity such as Funan Mall and the upcoming integrated development at the current Liang Court site.

Executive director of investment advisory, Mr Tan Chun Ming, said: “The sale of 13 and 15 New Bridge Road presents a valuable opportunity for incoming buyers looking to own a prime asset within District 1, and carry out enhancement works to maximise the potential of the property.”

He added, “Shophouses present a very palatable quantum for investment, and appeal to a wide range of investors. In particular, shophouses with approvals for F&B and takeaway food establishments are often well sought after.”

The indicative guide price for the shophouses at 13 and 15 New Bridge Road is $6,200,000 per shophouse, excluding the premium payable for lease renewal. As the property is zoned commercial, it is not subject to additional buyer’s stamp duty or seller’s stamp duty, and is eligible for purchase by both local and foreign buyers.

ENDS

For further information, please contact:

Wong Wei Chen
Senior Manager, Corporate Communications
O: +65 6393 2369
Email: weichen.wong@etcsea.com

 

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