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The adjoining shophouses share a combined land area of about 3,702 sq ft, and can be purchased separately at an indicative guide price of $2,500 per sq ft via expression of interest (EOI). Image: Edmund Tie
Three adjoining shophouses at 262, 264 and 266 River Valley Road have been launched for sale via expression of interest (EOI) carrying an indicative guide price of $2,500 per sq ft based on the total built-up area of about 8,778 sq ft.
Marketing agent Edmund Tie noted that the shophouses can be purchased separately as they come with individual land titles.
Situated on a corner plot, the shophouses command an 18-metre wide frontage and have a combined land area of about 3,702 sq ft. They are zoned “Residential with Commercial at First Storey” under the 2019 Master Plan, with a plot ratio of 2.8 and an allowable building height of up to four-storeys.
They are 350 metres away from Fort Canning MRT station and within 800 metres from Dhoby Ghaut MRT interchange as well as Somerset MRT station.
A short walk to Clarke Quay and Robertson Quay, the shophouses are also about 10 minutes’ drive to the Central Business District and five minutes’ drive to Orchard Road.
Tan Chun Ming, Executive Director of Investment Advisory at Edmund Tie, noted that the shophouses are fully tenanted, hence well-suited for investors looking for immediate income.
And unlike many shophouses within prime districts that are under conservation, the three shophouses are situated within a non-conservation area.
“This is therefore a rare opportunity to purchase freehold shophouses in prime districts without the constraints of conservation regulations,” said Tan.
“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 EOI exercise for the shophouses closes on 2 December.
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