The Property sits on an approximately 1,691 sq ft land with a total gross floor area of approximately 7,481 sq ft. It is zoned full “Commercial” under the 2014 Master Plan. Located within the Upper Circular Road Conservation Area – the only shophouse area in the CBD under secondary conservation rules where a 6-storey rear extension is allowed at a maximum Plot Ratio of 4.2. The Property underwent major restoration works recently and key features of the restoration and refurbishment works include adding a rear 6-storey extension block, brand new mechanical and engineering systems and installation of mechanical car parking lots.
Centrally located between Clarke Quay and Boat Quay, with modern skyscrapers form the backdrops, the area is an up-and-coming work-play lifestyle destination well-frequented by locals and tourists alike. The strip of shophouses offers an eclectic mix of commercial, entertainment, cultural and lifestyle attractions with ready catchment of customers and voluminous traffic flow from the Central Business District. The Property also enjoys excellent accessibility being located 150-metre away from Clarke Quay MRT station and 5-minute walk to Raffles Place Financial District.
Sammi Lim, Director, Capital Markets, CBRE said, “It is extremely rare to find a shophouse building in the Central Business District that is available for immediate occupation, served by a lift and comes with ensuite car parking.
This Property is a perfect opportunity for owner-occupiers to own a headquarter building that comes with naming and signage rights. The market continues to look for quality shophouse assets in the CBD for mid to long-term hold. The Property presents a highly attractive purchase opportunity to investors as it appeals to a wide range of tenant groups such as F&B, law firms, accounting, IT, showroom, medical & healthcare, family offices, from local to overseas.”
As a full commercial zoned property, this purchase is open to both local and foreign buyers, and with no additional buyers’ stamp duty (ABSD) or sellers’ stamp duty (SSD).
CBRE is the sole marketing agent for this Expression of Interest Exercise.
The Expression of Interest closes on 16 March 2018, Friday at 3 pm.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
