Row of three shophouses at Joo Chiat Road up for sale

Singapore

THREE adjoining freehold shophouses in Joo Chiat Road near its junction with Changi Road have been put up for sale by public tender.

The guide price for the trio, located opposite Joo Chiat Complex, is S$28 million.

The three shophouses are owned by a hardware company that currently occupies the premises for its business. It is prepared to give the buyer the option of purchasing the property with either vacant possession or a leaseback structure. Based on the rental the seller is prepared to pay, the gross yield would translate to 4 per cent, said Sammi Lim, associate director, investment properties, at CBRE. The property consulting group is the sole marketing agent for the shop…