Freehold 4-storey shophouse at Outram Road for sale at $12m

The shophouse, refurbished in 2021, has an estimated gross floor area of 4,600 sq ft on a 1,531 sq ft site.

A freehold 4-storey commercial shophouse located at 257 Outram Road has been put up for sale with a guide price of $12m.

CBRE, acting as the exclusive marketing agent, is conducting the sale via Expression of Interest (EOI), which will close on 16 April, at noon.

The shophouse, refurbished in 2021, has an estimated gross floor area (GFA) of 4,600 sq ft on a 1,531 sq ft site. It is fully tenanted, with a pet care service provider on the ground floor and a co-living operator occupying levels two to four.

Situated within the Tiong Bahru conservation area, the property is close to Tiong Bahru Market and other well-known lifestyle and dining establishments.

The neighborhood is characterised by its pre-war Art Deco architecture and has become a popular location due to its mix of heritage charm and modern amenities.

The property is also well-connected, just a nine-minute drive from the Central Business District and within proximity of key expressways, including the Central Expressway and Ayer Rajah Expressway.

The guide price translates to approximately $2,600 per square foot based on the estimated GFA. The property offers a gross rental yield of approximately 3.5%, which is considered higher than the average 2.5% yield for freehold shophouses in Singapore.