Kitchener Road shophouse for sale with S$12 million guide price

A SHOPHOUSE on Kitchener Road has been put up for sale via an expression of interest (EOI) exercise with an indicative guide price of S$12 million. 

While the address of the property was not disclosed, exclusive marketing agent PropNex on Wednesday (Feb 1) said it is a three-storey freehold property sitting on a 1,440.2 square foot plot of land. 

Buyers can potentially increase the floor area to about 4,321 square feet, and the property’s rear extension can also be built up to six storeys, the agency added.

Located across City Square Mall, the shophouse is leased to a restaurant and offices. 

It has a gross plot ratio of 3.0 and is zoned for commercial use under the Urban Redevelopment Authority’s Master Plan 2019. 

Upcoming developments in the area include Piccadilly Grand, 1953 and Uptown @ Farrer, as well as upcoming BTO (build-to-order) housing projects. 

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“Kitchener Road presents an opportunity for investors and owner-occupiers to acquire an excellently located freehold F&B (food and beverage) shophouse in prime city fringe enclave,” said PropNex Realty associate group division director, Loyalle Chin. 

Chin said the property “enjoys a stable yield” and that buyers can expect potential capital appreciation with nearby freehold retail space Centrium Square sold at S$4,967 per square foot strata area.  

The EOI exercise for the property will close at 3 pm on Apr 11.