A 999-year leasehold shophouse located at The 93rd storey of Club Street is on the market for $12.8 million and an unfreehold shophouse on 36 Yio Chu Kang Road for $7.6 million according to CBRE which is the agent for the properties. Both properties are available for purchase individually or in a group or both, and will be sold via the expression of interest which closes on September 20.
The shophouse on The shophouse at 93 Club Street is a conservation shophouse located in the Chinatown- Telok Ayer Conservation Area. The area is near three MRT stations: Maxwell along the Thomson-East Coast Line, Telok Ayer on the Downtown Line (DTL), and Chinatown Interchange on the DTL and North-East Lines.
The three-story property is located on an square feet plot designated “commercial” according to the masterplan. It covers an estimated built-up space of 2787 sq feet and the ground floor has been deemed suitable to be used for F&B usage.
In addition, the 36 Yio Chu Kang Road is a corner shophouse with a single storey within the Kovan neighborhood. The property is located on a 3,479 square foot area which is designated “Commercial as well as Residential” with the plot ratio of 3.0 according to the Master Plan.
The shophouse is comprised of an area of 2,320 square feet and it is let to a swimming school. This makes the most of the vast neighborhood’s population. Commercial areas in the area are sought-after by F&B companies as well as convenience stores, health centers, and educational centres.
Parking is available nearby along the side roads leading to the shophouse. Moreover, there are car parks for public use near Serangoon Stadium, which is just off the road.
“Both the 93 Club Street and 36 Yio Chu Kang Road each have distinctive appeal and offer excellent opportunities for those who want to purchase more leasehold freehold or 999-year leasehold properties,” says Clemence Lee the chief executive officer of the capital market Singapore at CBRE.
He also says that Club Street Club Street offers owner-occupiers a trophy asset for their businesses, such as family offices, who have increasingly selected the Club Street/Ann Sing Hill enclave as their headquarters area.
The shophouse located at 36 Yio Chu Kang Road offers an excellent chance for investors looking to purchase premium commercial properties according to Lee who adds: “Corner commercial spaces like 36 Yio Chu Kang Road are highly sought-after and are held tightly.”