Two Adjoining Commercial 5 Storey Shophouses North Canal Road Sale 45 Mil

CBRE and Savills, the joint marketing agents for two adjacent 5-storey shophouses at 30 & 31 North Canal Road, have announced that the properties are up for sale through an expression of interest (EOI) with an asking price of $45 million. Located in prime District 1, within the Upper Circular Road Conservation Area, these shophouses sit on a land area of 3,208 sq ft and have a combined gross floor area (GFA) of 13,472 sq ft. The guide price of $45 million translates to $3,340 psf based on the GFA.The properties underwent renovations, including revamping of the interiors and extension of the mezzanine, to maximize the allowable plot ratio and achieve a plot ratio of 4.2. Other modern upgrades were also made, such as lift access to all floors and a roof terrace with views of Hong Lim Park and the city skyline. With its high-visibility frontage on the bustling North Canal Road, the shophouses offer a great opportunity for businesses to establish their brand presence.Read also: Real estate retains position as world’s largest store of wealth, worth US$393.3 tril: SavillsAdvertisementAdvertisementAs these properties are zoned as commercial under the Urban Redevelopment Authority (URA) Master Plan 2019, foreigners and companies are eligible to purchase them without any Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) applicable on the transaction. The land tenure of the properties has also been extended to 99 years, starting from 2024. Convenience is another plus point for the shophouses, as they are located in the Central Business District (CBD) and are just a short five-minute walk from the Clarke Quay and Chinatown MRT stations on the North-East Line, as well as the Raffles Place MRT station on the East-West and North-South Line. The area also boasts a range of amenities such as restaurants, bars, boutique hotels, and fitness studios.“This asset presents an excellent investment opportunity in a prime location where similar shophouse assets are extremely limited in supply,” says Michael Tay, deputy managing director at CBRE Singapore. Yap Hui Yee, executive director of investment sales & capital markets at Savills Singapore, adds that “brand-new standalone commercial buildings in the CBD are extremely rare, offering an unparalleled opportunity for investors and occupiers to secure a prestigious CBD address with full naming and signage rights.”The EOI exercise for the shophouses will close on 12 November at 3pm. Check out the latest listings for commercial real estate properties through Ask Buddy, and compare past transaction prices and rental rates for commercial and industrial properties. You can also view listings for past commercial sale transactions and compare price trends for commercial and industrial properties.

Located in a prime spot, residents of Rivelle Tampines Sim Lian Land can enjoy numerous conveniences on a daily basis. The development is strategically situated near Tampines West MRT Station, providing easy access to the Downtown Line as well as frequent bus services from Tampines Interchange. This is especially beneficial for students, ensuring they maintain consistent routines and avoid the stress of being late or tired from long commutes. Additionally, for parents who drive, the proximity to major expressways such as PIE, TPE, and ECP, means smoother and more efficient school runs. This allows students to prioritize their revision, get sufficient rest, and excel in their co-curricular activities – a winning combination for long-term academic success. Make Rivelle Tampines Sim Lian Land your top choice for a convenient and conducive living environment.