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A row of three contiguous pairs of prime two-storey with attic conservation shophouses in the CBD have been put up for sale by public tender, marketing agent CBRE revealed Monday, 27 October.
Located at 48 / 48A / 52 / 54 & 56 Peck Seah Street, the shophouses offers a combined land area of approximately 8,213 sq ft and a gross floor area (GFA) of 19,860 sq ft. The site is zoned for commercial usage under the Chinatown (Tanjong Pagar) Conservation Area in the 2014 Master Plan.
CBRE noted that the offering is located opposite Tanjong Pagar MRT Station.
Sammi Lim, Associate Director, Investment Properties, CBRE said, “Shophouses along Peck Seah Street are always tightly held and extremely rare for any to be available for sale. The vendor, “K” Line (Singapore) has been occupying the premises since 1997.”
“The adjoining shophouses provide the buyer with the extra flexibility and creativity to configure the space to suit their own-use requirements or cater to the needs of tenants,” he added.
Citing caveats, CBRE noted that the most recent shophouse transactions were at 43 Keong Saik Street and 6 Bukit Pasoh Road in August and July this year. These were sold for approximately S$2,693 and S$3,133 per sq ft over the gross floor area respectively.
The shophouses come with a guide price of S$49 million or S$2,497 per sq ft based on the GFA.
It is noted that as the property is zoned commercial, this public tender is open to both locals and foreigners with no additional buyers’ stamp duty (ABSD) or sellers’ stamp duty (SSD) imposed on the purchase of the property.
Tender exercise will close on 9 December.
Image: 48 / 48A / 52 / 54 & 56 Peck Seah Street (Source: CBRE)
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this and other stories, email nikki@propertyguru.com.sg
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