A 999-year leasehold storehouse at 8 Circular Road in the CBD is being offered for sale in an expression of Interest (EOI) procedure. Three-storey property is located in the Boat Quay Conservation Area and is situated on an site that is 1,080 square feet which is classified as commercial property. The built-up area of 3,082 sq feet including an outdoor terrace of 180 square feet.
Hillock Green launch price covering an impressive site area of 13,444.3 square meters, this non-landed residential property.
According to the marketing agency CBRE The shophouse is offered at an estimated price of $19.8 million and amounts to $6,424 psf in its total area. It is a property is currently rented out and is approved for use as nightclub on the 1st floor and a workplace on the 2nd level and restaurant on level 3.
The shophouse is located five-minute walk away from Clarke Quay and Raffles Place MRT Stations.
“With an increasing demand for shophouses in Singapore’s CBD from families and wealthy individuals it is an excellent opportunity to purchase a premium property in an area that is characterized by an impressive rental market and a reasonable amount. The property’s tenure of 999 years makes it a great investment for preserving wealth,” remarks Joshua Giam, CBRE Associate Director of capital markets, Singapore.