Shophouses and retail units in Far East Plaza for sale

FOUR adjoining strata-titled retail shops at Far East Plaza and a row of three contiguous pairs of prime two-storey conservation shophouses in Peck Seah Street have been launched for sale by public tender.

The retail shops in Far East Plaza, #02-64/65/68/69, front the main concourse of the shopping mall. The units, ranging from 624 sq ft to 1,248 sq ft in size, are being offered in two-unit or four-unit deal structures.

The guide price for them are S$6 million for each pair, which works out to about S$9,615 per sq ft (psf). As the units are zoned commercial, both local and foreigners are eligible to purchase with no additional buyers' stamp duty (ABSD) and no sellers' stamp duty (SSD ) imposed.

The tender closes at 3pm on Dec 2.

Separately, the shophouses in Peck Seah Street - units numbered 48/48A, 52/54 and 56 - have a combined land area of 8,213 sq ft. The total current gross floor area is approximately 19,860 sq ft. The site is zoned for commercial use under the Chinatown (Tanjong Pagar) Conservation Area in the 2014 Master Plan.

The guide price for the subject property is S$49 million or S$2,497 psf over gross floor area. The tender closes at 3 pm on Dec 9.

CBRE is the sole marketing agent for both properties.