Joo Chiat freehold shophouse block sold for S$16.8m
A company linked to OCBC's Lee family selling the asset to a property fund manager
Add BT as a preferred source
Kalpana Rashiwala
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
A FREEHOLD shophouse block comprising five units along Joo Chiat Road has been sold for S$16.8 million. The price works out to S$1,357 per square foot based on the lettable area of 12,382 sq ft.
The site is zoned for commercial use within the Joo Chiat Conservation Area, a secondary settlement. The front of the building has two storeys and an attic - and this part of the building has to be conserved. However, the rear portion, which is four storeys high, can be torn down and rebuilt up to five storeys.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss
‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
South-east Asian markets account for 8.8% of global capital inflows from 2021 to 2024: report
