SINGAPORE (ERG) - A two-storey conservation shophouse with attic along Neil road in District 2 of Singapore, has been put on the market by ERG - Exclusive Real Estate Group. Located between the junctions of Teck Lim Road and Kreta Ayer Road, it has a built-up area of 3,150 sq ft and a land area of around 1,482 sq ft. It has a tenure of 99 years, starting from 1989. The property fully leased to a restaurant on the ground floor, and office on its uppers floors.
Interior Photos of 2nd level and attic
The unit has versatile potential uses, including operating as a restaurant, retail shop, clinic, gym, or office space. ERG anticipates receiving offers ranging from $10.5 million to $11.5 million, equivalent to a price per square foot (psf) on the built-up area ranging from $3,333 to $3,650.
Since the property falls under the "commercial" zoning, there are no additional buyer's stamp duty or seller's stamp duty fees applicable.
In the vicinity, there are various dining options like Shake Shack, The Populus, and The Lokal. Additionally, the upcoming Maxwell MRT Station on the Thomson-East Coast Line will be within a short walking distance. Notably, the former Chinatown Plaza, situated approximately 100 meters away from 55 Neil Road, is presently undergoing redevelopment into a mixed-use development.
Daniel Chng, the Founder of ERG, emphasized that the shophouse enjoys a strategically advantageous position within the Tanjong Pagar precinct. This location is poised to gain from ongoing revitalization efforts and redevelopment.
One notable feature is the proximity of the Maxwell MRT station, which is now completed and situated directly across from the property. This station is expected to greatly improve accessibility and attract a substantial flow of visitors to the surrounding area. "These exceptional qualities combine to create an exceptional investment opportunity, offering the prospective buyer the prospect of substantial increases in both property value and rental income." said Daniel of ERG. It was noted that the demand is expected to receive support from the improving economic outlook, increasing confidence among both domestic and international buyers in Singapore's real estate market, as well as the recent implementation of new property cooling measures in the residential sector.
Daniel Chng
Cea Reg No. R012345i +65 8752 5515
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