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Located within the Boat Quay Historic Conservation District, the shophouse occupies a 950 sq ft site and has a total build-up of about 2,760 sq ft. Photo: Savills Singapore
A three-storey conservation shophouse at 17 Circular Road has been put up for sale via expression of interest (EOI) with a guide price of $10.8 million or about $3,913 per sq ft (psf) on floor area, revealed exclusive marketing agent Savills Singapore.
Located within the Boat Quay Historic Conservation District, the shophouse occupies a 950 sq ft site and has a total build-up of about 2,760 sq ft. It is fully tenanted to a food and beverage (F&B) tenant on the ground floor, a shop on the second floor and a gym on the third floor.
It is near the Singapore River as well as the Raffles Place MRT Interchange station.
Suggested read: Guide to Buying Commercial Property in Singapore
“Shophouses in the Circular Road / Boat Quay precinct have always been highly sought after due to their prime location. With stable rental income stream and a 999-year tenure which is akin to freehold, 17 Circular Road is a rare find in today’s market,” said Yap Hui Yee, Director of Investment Sales and Capital Markets at Savills Singapore.
The property is well positioned to capture “the large catchment of employees working in the vicinity” since it is surrounded by major office buildings like One George Street, CapitaSpring, UOB Plaza 1 and 2, One Raffles Place and OCBC Centre.
Given its commercial zoning, foreigners and companies are allowed to acquire the shophouse with no Additional Buyer Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) payable.
The EOI exercise for the shophouse closes on 30 September.
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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this story, email: victorkang@propertyguru.com.sg
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