Clarke Quay conservation shophouse put on the market for S$15-18m

A FOUR-STOREY conservation shophouse at 21 New Bridge Road in Clarke Quay has been put up for sale via expression of interest (EOI).

The guide price for the property is S$15 million for its existing condition and S$18 million if the buyer opts for a six-storey rear extension and fresh 99-year tenure.

Relevant approval for the rear extension and fresh 99-year tenure has been obtained from government authorities, marketing agent Knight Frank said in a press statement on Thursday.

The shophouse has an existing gross floor area (GFA) of about 4,263 square feet (sq ft), excluding the roof terrace and pedestrian walkway of about 420 sq ft.

It sits on a plot zoned for commercial use with a plot ratio of 4.2 and a land area of 1,443 sq ft. With the six-storey rear extension, the new proposed total GFA is about 5,973 sq ft.

The refurbished shophouse is 1.2 kilometres from Raffles Place and within the vicinity of Clarke Quay MRT station. It is tenanted to a restaurant on the ground floor and offices on the upper levels.

Knight Frank executive director of capital markets Mary Sai noted there is lesser stock of well-located shophouses in the central business district for sale as many are still tightly held by owners, who remain sanguine that prices are holding well in their favour.

The EOI will close on Oct 14 at 3pm.