Pair of North Canal Road shophouses for sale at $8.5 mil
Both shophouses are presently completely tenanted. Together, they have a mixed built-up area of surrounding 9,650 sq ft, which implies the guide cost works out to $881 psf.
The shophouse at 42 North Canal Road is a five-storey property with an approximated built-up area of around 6,360 sq ft. Occupying a 1,669 sq ft land parcel, it has a story ratio of 4.2. This suggests the shophouse’s built-up area could possibly be broadened to around 7,009 sq ft.
A pair of adjoining preservation shophouses situated at 42 and 43 North Canal Road in the Boat Quay precinct have been introduced for sale with an expression of interest (EOI) exercise. The shophouses– both 99-year leasehold commercial real estates– have a mixed guide cost of $8.5 million.
Bloomsbury Residences floor plan
He anticipates the real estates to draw strong attraction from both traditional shophouse entrepreneurs and operators reassessing the location following URA’s policy change. “At $8.5 million for both units, this is a somewhat accessible entry factor for a shophouse couple with this kind of frontage and scale,” he states.
Loyalle Chin, founder of Steward Asia, a team under PropNex Realty that is marketing the estates, notes that buyers might explore amalgamating the shophouses and applying for a modification of use to resort or serviced apartments.
The properties are a three-minute step away from Clarke Quay MRT Station, while the Chinatown MRT Interchange is approximately 5 mins away on foot.
Next door, the shophouse at 43 North Canal Road is a two-storey real estate with a built-up area of concerning 3,290 sq ft. It spans a land area of 1,838 sq ft, with potential for a back expansion– based on confirmation from authorities– that would increase the built-up area as much as a maximum of 7,720 sq ft, based upon the 4.2 plot proportion.
The EOI will certainly shut at 3pm on Sept 30.
The shophouses are part of a wave of saved commercial structures that have actually gone on the marketplace since URA relaxed restrictions on accommodation-led usages in the Coastline Roadway and Upper Circular Road Sanctuary in June. The North Canal Road shophouses drop under the latter.
