The real estate market is abuzz with an intriguing opportunity as a collection of seven freehold conservation shophouses has emerged for sale at a guide price of $100 million. Located strategically along Joo Chiat Road, these properties boast both historical significance and commercial potential, making them a rare find in the current market.
Property Details and Specifications
This portfolio encompasses units situated at 452, 454, 456, 458, 460, 462, and 464 Joo Chiat Road. Altogether, these shophouses cover approximately 8,442 square feet of land with an existing gross floor area (GFA) of about 15,056 square feet. Interestingly, there exists the possibility to enhance the maximum allowable GFA up to an impressive 25,326 square feet through a rear extension that can reach five storeys—subject to necessary approvals.
The price translates to around $3,948 per square foot based on this maximum GFA. This figure positions it attractively within recent transaction trends observed in the vicinity.
Current Tenancy and Location Advantages
The shophouses are fully leased out to various tenants including well-known businesses such as Encore Muay Thai and Cheeers Bistro & Bar. Their present occupancy ensures immediate rental income for potential investors while also presenting opportunities for further capital appreciation as the area continues to develop.
Positioned at the intersection of Joo Chiat Road and East Coast Road and directly opposite the i12 Katong mall, these properties enjoy high visibility. Additionally, they are surrounded by numerous eateries and retail outlets that contribute to continuous foot traffic—a vital factor for any thriving business.
Community and Connectivity
Joo Chiat maintains its appeal not only through its vibrant lifestyle offerings but also thanks to its proximity to reputable schools like Haig Girls’ School among others. The district’s connectivity is enhanced by excellent public transport links; Marine Parade MRT station is just an eight-minute walk away while major expressways ensure quick access to downtown Singapore.
Investment Potential
The uniqueness of this listing lies in its combination of scarcity and potential profitability. Investors are presented with a compelling chance to acquire a contiguous row of shophouses in one of Singapore’s most desirable lifestyle destinations. The established F&B landscape within the precinct serves as an added advantage due to several units already holding permanent F&B approvals.
The interest surrounding this sale reflects a broader trend where freehold commercial assets in prime city-fringe locations become increasingly sought after. With both income stability from existing leases and significant value-add possibilities through redevelopment or refurbishment strategies, this property stands out as a noteworthy investment opportunity.
Conclusion
Source: Original Article
