COMMERCIAL PROPERTY | Staff Reporter, Singapore

Conservation shophouse up for sale at $13m

It is the last available unit of shophouses for sale since last year.

A three-storey conservation shophouse at 18 Ann Siang Road has been put up for sale via expression of interest (EOI) at $13m, according to Knight Frank Singapore.

The shophouse is the last available unit of a trustees’ tranche of six commercial and one residential shophouse, which were put up for sale since October last year.

The three-storey shophouse, which includes a basement, has an approximately 127 square metres (sqm) land area and built-up area of approximately 401.92 sqm.

Moreover, the shophouse is located near the junction of Ann Siang Road and Ann Siang Hill, a busy street with an abundance of eateries, trendy bars and associations. It is also easily accessible, with the upcoming Maxwell MRT station just 250 metres away.

Sales of shophouses have shown no sign of abatement since Singapore’s Phase 2 of the COVID-19 reopening period, with prices currently transacted reflecting the resilience and popularity of shophouses amidst uncertain times.

“Savvy buyers who have followed the shophouse market closely are fully aware of its potential for capital appreciation, as well as the possibility of renting the property out to multiple tenants for maximum rental income,” Knight Frank Singapore executive director Mary Sai said.

The EOI for 18 Ann Siang Road will close on 21 December at 3 p.m.

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