In 30 to 46 Joo Chiat Place, there is a row of nine conservation shophouses for sale for about $33.9 million. Under a single stratum name, freehold properties are offered below their market value.
Currently, an Expression of Interest (EOI) from Huttons Asia is underway.
The prices of Perfect Ten Singapore condominium are slated to accommodate many premium units
With this sale, there is an opportunity to acquire a row of eight contiguous shophouses from the Joo Chiat area of Singapore for freehold.
The two shophouses cover a combined land size of 13,996 square feet, and thus their suggested cost corresponds to $2,422 psf in the property region. This building, which is designated for “home-made with business on the first floor” under the 2019 Master Plan, is located on the site.
Residents who have been long-term tenants in certain shophouses, including Guan Hoe Soon Restaurant, Yu Kee Duck Rice, Temptations Confectionary, and Rehab Alliance, have been given permission to occupy the ground floor space.
Shophouses give you great road exposure with dual frontages along Joo Ciat Place and Tembeling Road, according to Simon Monteiro, senior partner marketing manager at Sotheby’s International Realty.
These premises may also be used to accommodate a range of other businesses, such as boutique bed-and-breakfasts, co-working spaces, clinics for support housing, and health facilities, as long as the relevant government agencies approve.
Another possible thing that the new owner could do is to construct a five-story building expansion at the back of the shophouses, says Huttons Asia, which states that those who qualify for ABSD remission will just have to meet certain criteria.