SINGAPORE (EDGEPROP) - A pair of adjoining three-storey conservation shophouses at 73 & 75 Neil Road have been put up for sale, announced CBRE the sole marketing agent. The sale will be conducted through an Expression of Interest (EOI) exercise.
The shophouses enjoy an 11-metre street frontage along Neil Road and sit on a 4,439 sq ft plot. They have a combined gross floor area of 11,128 sq ft and a front courtyard of 825 sq ft. Both shophouses will be sold together at an indicative guide price of $30 million, which translates to $2,510 psf on the floor area.
According to CBRE, the properties are fully leased to office tenants. There is no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) imposed on the purchase of the property.
The shophouses are within the Chinatown (Tanjong Pagar) Conservation Area. “73 & 75 Neil Road present an excellent opportunity for investors to acquire a pair of fully let shophouses located in this highly sought-after F&B and lifestyle enclave,” says Clemence Lee, senior director, capital markets, Singapore at CBRE.
The EOI will close on June 10.