A pair of shophouses in Chinatown up for sale

The indicative guide price is $23M.

A pair of beautifully restored three-storey freehold shophouses with mezzanine levels nestled within the heart of Singapore’s historic Chinatown district is being offered througn an Expression of Interest (EOI).

The subject property sits on a combined land area of approximately 2,688 sq ft and has a total gross floor area (GFA) of approximately 7,800 sq ft. Under the 2014 Master Plan, the site is zoned “Commercial” under the Chinatown Historic District (Kreta Ayer) Conservation Area.

The property is currently fully occupied – with a furniture showroom and restaurant cum bar on the ground floor and office tenants on the upper floors.

The offering is located about 200-metres from the Chinatown MRT station and about 450-metres from Telok Ayer MRT station. It is readily accessible via public transportation along New Bridge Road and Cross Street. Located within the Central Business District (CBD), the property is within 5 to 10 minutes’ walk to the Raffles Place district. It is easily accessible to other parts of Singapore via the Central Expressway (CTE), Marina Coastal Expressway (MCE) and Ayer Rajah Expressway (AYE).

The indicative guide price for 22 & 23 Mosque Street is in the region of $23 million, which translates to about $2,950 psf on the existing GFA.

As the property sits on land zoned for commercial use, foreigners are eligible to purchase the property. There is also no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) imposed on the purchase of the property.

The sale will be conducted through an Expression of Interest (EOI) exercise which closes on Wednesday, 9 November 2016 at 3pm.

JLL is the exclusive marketing agent.

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