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Located at 52 Foch Road, the property comprises a pair of two-storey conservation shophouses that comes with attic and a four-storey rear extension. Photo: Google Street View.
Two freehold corner shophouses within the Lavender/Kallang precinct have been put up for sale via expression of interest (EOI), carrying a guide price of $13.2 million, revealed marketing agent Savills Singapore.
Located at 52 Foch Road, the property comprises a pair of two-storey conservation shophouses that comes with attic and a four-storey rear extension. It occupies a 2,848 sq ft site and have an existing built-up area of around 8,417 sq ft. The property is equipped with concrete flooring, a set of concrete staircases and a modern lift to serve the upper floor units.
“Under the 2019 Master Plan, the property is zoned “Commercial” under the Jalan Besar Secondary Settlement Conservation Area, which allows for rear extension up to six storeys,” said Sophia Lim, Senior Manager of Investment Sales & Capital Markets at Savills Singapore.
The property, which enjoys high footfall throughout the day, is situated at the beginning of Foch Road/Lavender Street, opposite the recently completed Arc 380.
Savills noted that the property enjoys ‘restaurant’ approval on the ground floor and is tenanted out to a coffee shop operator. 52 Foch Road also has office tenants on the upper floors.
All seven units are fitted with en-suite toilets and individual air-conditioning systems, while selected upper floor units have double volume ceiling height.
“This is a rare opportunity for both investors and end-users to own a pair of freehold commercial shophouses that come with both F&B approvals and modern specifications (including a lift) in the heart of the Lavender/Kallang precinct,” said Lim.
She noted that the property offers the buyer with the “flexibility to configure the space to suit an entire spectrum of commercial uses”.
She added that potential alternative uses of the property include café, showroom, educational, fitness centre, retail, medical, healthcare, home & living and lifestyle business, subject to the relevant authorities’ approval.
An eight-minute drive from the central business district, the property is 270 metres from Bendeemer MRT Station. Prominent landmarks within the vicinity include Aperia Mall, CT Hub and the recently completed ARC 380.
Both foreigners and companies are allowed to acquire the property, with no Additional Buyers’ Stamp Duty or Sellers’ Stamp Duty payable.
The EOI exercise for the portfolio closes on 17 August, at 3pm.
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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg