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Bukit Pasoh shophouse for sale with S$10.5m guide price

6 Bukit Pasoh Road.jpg
The indicative price translates to about S$3,750 per square foot on the total floor area.

SINGAPORE'S shophouse blitz is showing no signs of abating, with another at 6 Bukit Pasoh Road up for sale at a guide price of S$10.5 million.

The indicative price translates to about S$3,750 per square foot on the total floor area, sole marketing agent PropNex Realty said on Wednesday.

Occupying a land area of 1,363 square feet (sq ft), the central business district (CBD) shophouse has a total floor area of about 2,800 sq ft, subject to site survey, PropNex said. It added that the 2.5-storey property comes with staircase access from the front and may be repositioned for food and beverage usage on the upper floors.

The shophouse is zoned for full commercial use under the Urban Redevelopment Authority's Master Plan 2019. Foreigners are eligible to buy the property, and the sale will not incur additional buyer's stamp duty.

Located near Outram Park MRT interchange in the Bukit Pasoh conservation area, the property is within walking distance to residential development Pinnacle@Duxton.

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PropNex said the property will be sold with tenancy and is "suitable for investment". The ground storey is leased to artisanal bakery cafe Baker's Bench Bakery, while the upper floors are occupied by fintech payment solutions firm Lyte Ventures.

Loyalle Chin, associate division director at PropNex Realty, said the price tag is "one of the lowest" for freehold and 999-year leasehold shophouses in the CBD.

Recent CBD shophouse transactions include 77 Amoy Street, which was sold for S$29.8 million and has a 999-year tenure.

Meanwhile, 28 Duxton Hill was transacted at about S$15.8 million, while 43 Craig Road was transacted at around S$10.7 million, PropNex noted. Both properties have a leasehold tenure of 99 years from 1989.

The tender for 6 Bukit Pasoh Road will close at 3pm on Dec 17.

Separately, five shophouses and three Bukit Timah Plaza retail units were launched for sale earlier this week on Monday. These properties have a combined indicative price of S$33.3 million, SRI Capital Market, the exclusive marketing agent for the properties, told The Business Times (BT).

Last month, BT also reported that a slew of shophouses in Singapore have been put up for sale or transacted, as the market heats up after a months-long lull from pandemic-related restrictions. Freshly launched properties included shophouses in Tiong Bahru, River Valley, Bugis and Telok Ayer.

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