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The 99-year leasehold shophouse comes with an attic and has a built-up area of around 2,530 sq ft, said exclusive marketing agent Knight Frank Singapore. Photo: Knight Frank
A two-storey conservation shophouse within the Central Business District has been put up for sale via expression of interest (EOI), with offers expected to hover between $6.07 million and $6.33 million, or about $2,400 per sq ft (psf) to $2,500 psf.
Located at 55 Neil Road, between the junctions of Kreta Ayer Road and Teck Lim Road, the 99-year leasehold shophouse comes with an attic and has a built-up area of around 2,530 sq ft, said exclusive marketing agent Knight Frank Singapore.
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The shophouse sits on a 1,401 sq ft that is zoned for “Commercial” use, which means buyers need not worry of paying Additional Buyer’s Stamp Duty (ABSD) and Seller’s Stamp Duty (SSD). It is being sold with vacant possession.
Knight Frank expects the property to benefit from “the redevelopment of the former Chinatown Plaza into a mixed-use development and completion of Maxwell MRT station” by end-2021. The shophouse is also near popular F&B establishments such as The Populus, Shake Shack and The Lokal.
The shophouse may be used for various purposes, including a retail shop, restaurant, gym, clinic or as an office, subject to the relevant authorities’ approval.
Knight Frank noted that its price range is comparable to “recent shophouse transactions along Neil Road, such as 134 Neil Road, a freehold property that transacted at $12.93 million, or S$3,495 psf in February 2021, and 29 Neil Road, a 99 years leasehold site which sold for $4.6 million or $2,558 psf in November 2020”.
The EOI exercise for 55 Neil Road closes on 28 April.
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