Craig Road shophouse put on market with S$12m guide price

Vivienne Tay

Published Wed, Jul 27, 2022 · 12:45 PM

A SHOPHOUSE located at Craig Road in the central business district has been put up for sale via expression of interest with a S$12 million guide price.

This translates to around S$3,445 per square foot (sq ft) on an estimated floor area of 3,483 sq ft, according to a press statement released by sole marketing agent Savills Singapore on Wednesday (Jul 27).

The 2-storey shophouse sits on a site spanning 1,581 sq ft zoned for commercial use. This means foreigners and companies can purchase without incurring additional buyer’s or seller’s stamp duty.

The property also comes with food and beverage (F&B) approval on the ground floor and approval for office use on the upper floor. Currently, it is fully tenanted to a Japanese cafe-teahouse on the ground floor and a MNC tenant on the second floor.

On top of being located at the junction of Neil Road and Craig Road, the shophouse is near Tanjong Pagar MRT, Outram Park Interchange and Maxwell MRT. It is also within the Chinatown-Tanjong Pagar conservation area and situated near the Duxton Hill and Keong Saik F&B enclave.

Savills Singapore senior director of investment sales and capital markets Yap Hui Yee expects the asset to benefit from the influx of international tourists visiting the historic conservation area.