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The three adjoining shophouses on 82 to 84 Circular Road have a combined land area of 3,611 sq ft and a total built-up area of about 7,386 sq ft. Source: Google Maps
A row of adjoining shophouses at 82, 83 and 84 Circular Road has been put up for sale via Expression of Interest (EOI) with a guide price of $28 million, revealed exclusive marketing agent Savills Singapore.
Occupying a combined land area of 3,611 sq ft, the three conservation shophouses offer an amalgamated total built-up area of about 7,386 sq ft. The price, thus, translates to about $3,790 per sq ft (psf) based on the floor area.
The 999-year shophouses are situated in the Boat Quay Historic conservation area within the Central Business District (CBD). Savills noted that 82 and 83 Circular Road “are both two-storey conservation shophouses, while 84 Circular Road is a three-storey conservation shophouse”.
Zoned for Commercial use, the shophouses—which enjoy 100% occupancy rate—come with restaurant approvals on the ground floors as well as office use on the upper levels.
The shophouses are near Raffles Place MRT Interchange station and are surrounded by major buildings such as OCBC Centre, CapitaSpring, UOB Plaza1 and 2, One Raffles Place and One George Street.
Savills said foreigners and companies could acquire the shophouses with no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) payable.
“CBD shophouses have always been very well-sought after and have seen stellar growth since Phase 2 reopening in June 2020,” said Yap Hui Yee, Director of Investment Sales and Capital Markets at Savills Singapore.
She added that 82, 83, and 84 Circular Road enjoy a competitive advantage due to their strategic location in a popular F&B stretch within the CBD, which attracts not only lunch crowds but also patrons in search of a dinner spot.
“Shophouses in the Circular Road / Boat Quay precinct have always been tightly held and extremely rare for a connecting row with excellent visibility frontage, to be available for sale. For contiguous row of adjoining shophouses, it gives the purchaser the flexibility to explore the change of uses potential and such assets are sought after as purchasers can be creative in the restoring of the space by leveraging on the larger floor plates,” said Yap.
“This is also an excellent opportunity for owner-occupiers such as family offices to acquire a charming flagship property with potential signage right in the heart of Central Business District for their own operations.”
The EOI exercise for the shophouses closes on 18 August.
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Cheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email: cheryl@propertyguru.com.sg
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