Three conservation shophouses in Chinatown up for sale at S$30.5m total guide price

A PORTFOLIO of three shophouses at Ann Siang Road and Keong Saik Road is up for sale by expression of interest at a total guide price of S$30.5 million. The properties can be bought individually or as a portfolio

A trust company has appointed property consultancy Knight Frank Singapore to offer the portfolio for sale, Knight Frank said on Wednesday.

All three shophouses are zoned "Commercial" under Master Plan 2019. As they are commercial properties, the sale is open to both locals and foreigners, with no additional buyer's stamp duty and seller's stamp duty imposed.

Two properties are at 13 and 18 Ann Siang Road, with a guide price of S$8.5 million and S$13 million respectively. They have a 999-year leasehold and are prominently located near the junction of Ann Siang Road and Ann Siang Hill. They also within the Telok Ayer Conservation Area, and 250m away from the upcoming Maxwell MRT station.

No. 13 Ann Siang Road is a two-storey shophouse with an attic. It has a land area of about 1,250 square feet and a built-up area of around 2,468 sq ft. This unit was retrofitted some years ago, Knight Frank said.

No. 18 Ann Siang Road is a three-storey shophouse with a basement. It has a land area of about 1,367 sq ft and a built-up area of around 4,326 sq ft. The ground floor unit is now leased to a food-and-beverage outlet, which uses the basement as a kitchen.

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The remaining shophouse, a corner unit, at 3 Keong Saik Road has a guide price of S$9 million. It is a freehold three-storey corner shophouse off Neil Road, in the Bukit Pasoh Conservation Area. It has a land area of 1,287 sq ft and a built-up area of 3,236 sq ft.

Ian Loh, Knight Frank Singapore's head of Capital Markets (Land and Building, Collective and Strata Sales) said both freehold and 999-year leasehold shophouses in the prime District 1 and 2 are usually tightly held; there have been fewer than 30 transactions a year over the last seven years.

"The opportunity to acquire such splendid, conserved properties and own a little piece of Singapore's heritage is hard to come by, particularly given its central location," he said.

The expression-of-interest exercise for all three shophouses closes at 3pm on Aug 26.