Freehold shophouse along Tyrwhitt Rd for sale at S$7.5 million guide price
Yong Hui Ting
A TWO-STOREY and attic conservation shophouse sitting on 131 Tyrwhitt Rd has been put up for sale with a guide price of S$7.5 million by Savills Singapore on Monday (Jun 27).
The freehold property — comprising two storeys plus attic and a three-storey rear extension — has a floor area of approximately 3,509 square feet, which translates to an average of S$2,137 per square foot (psf) of floor area.
Currently fully tenanted, Savills’ senior director of investment sales & capital markets Yap Hui Yee said the ground floor of the shophouse, which has obtained “restaurant” approval, is at present occupied by a “popular café”. Its upper floors are also rented out to an international co-living operator, she added.
“Having undergone major additions and alterations and upgrading in 2016, the shophouse features an outdoor alfresco dining area and has been thoughtfully designed to include ensuite toilets in every room,” said Yap.
Under Urban Redevelopment Authority’s 2019 Master Plan, the shophouse is zoned “Residential with Commercial at 1st Storey” with a plot ratio of 3.0.
Yap believes the property will appeal to “owner occupiers, high-net-worth individuals or family offices for long term investment”, given the “limited supply, charming characteristic of the shophouse and quaint locale”.
The owner of the shophouse will also enjoy a rental yield of more than 3 per cent, she added.
Recent transactions along the street include the sale of two-storey conservation shophouse at 133 Tyrwhitt Rd, which transacted at the price of S$6.35 million in November last year.
Interested investors may also take heart to note that the street is currently home to a few popular cafés such as Chye Seng Huat Hardware, Druggists and Wimbly Lu, with Bendemeer MRT situated just a few minutes’ walk away.
The sale will be conducted through an Expression of Interest exercise which closes on Thursday (Jul 21) at 3 pm, as indicated in the press statement by Savills.
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