Pair of North Canal Road shophouses for sale at $8.5 mil
Both shophouses are presently totally tenanted. With each other, they have a consolidated built-up area of around 9,650 sq ft, which suggests the guide rate exercises to $881 psf.
The EOI will certainly shut at 3pm on Sept 30.
He expects the properties to draw solid attraction from both standard shophouse investors and operators reflecting on the area following URA’s policy change. “At $8.5 million for both units, this is a somewhat accessible entry point for a shophouse pair with this sort of frontage and scale,” he claims.
The shophouses come with a wave of saved commercial structures that have taken place the marketplace because URA relaxed constraints on accommodation-led uses in the Beach Roadway and Upper Circular Road Conservation Areas in June. The North Canal Road shophouses fall under the latter.
Next door, the shophouse at 43 North Canal Road is a two-storey real estate with a built-up area of regarding 3,290 sq ft. It extends a land area of 1,838 sq ft, with capacity for a rear expansion– based on authorization from authorizations– that would raise the built-up area as much as a maximum of 7,720 sq ft, based on the 4.2 story ratio.
Lentor Gardens Residences showflat location
The properties are a three-minute step away from Clarke Quay MRT Stop, whilst the Chinatown MRT Interchange is roughly 5 minutes away on foot.
A pair of adjacent conservation shophouses situated at 42 and 43 North Canal Road in the Boat Quay precinct have been released for sale with an expression of interest (EOI) exercise. The shophouses– both 99-year leasehold commercial real estates– have a mixed guide price of $8.5 million.
The shophouse at 42 North Canal Road is a five-storey real estate with an estimated built-up area of around 6,360 sq ft. Occupying a 1,669 sq ft land parcel, it has a story proportion of 4.2. This means the shophouse’s built-up area might possibly be increased to approximately 7,009 sq ft.
Loyalle Chin, founder of Steward Asia, a team under PropNex Real estate that is advertising the estates, notes that buyers could discover amalgamating the shophouses and applying for an adjustment of use to hotel or serviced apartments.
