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Axe Brand family pays S$25m for pair of Bukit Pasoh shophouses

Seller OCBC has just put up another four Amoy Street shophouses on the market

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The price for the shophouse pair works out to S$2,940 per square foot on the gross floor area of 8,503 sq ft. The gross yield is about 1.5 per cent based on the existing rental income from the property.

Singapore

OCBC seems to be on a roll selling conservation shophouse properties of late.

It recently sold a pair of adjacent freehold shophouses at 11 and 13 Bukit Pasoh Road for S$25 million. The buyer is understood to be the Leong family behind the famous homegrown Axe Brand