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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

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Currently, 201 Joo Chiat Road is only partially leased - as offices and showrooms. There is scope to drive up the property's rental income, especially if the asset undergoes renovation once leases expire, say market watchers.

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,...

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