A Rare Row Of 7 Freehold Joo Chiat Shophouses Has Hit The Market For $100M — Here’s What Makes The Site Stand Out
A row of seven adjoining freehold conservation shophouses is on the market at a guide price of $100 million. The commercial properties are located at 452, 454, 456, 458, 460, 462, and 464 Joo Chiat Road.
Collectively, the seven shophouses sit on a combined land area of about 8,442 sq ft, and have an existing Gross Floor Area (GFA) of 15,056 sq ft. With a plot ratio of 3.0, the double-storey shophouse block has a 68% potential increase in the maximum allowable GFA of up to 25,326 sq ft. The GFA can be maximised by adding a five-storey rear extension, subject to approvals.
Thus, the guide price translates to $3,948 per sq ft (psf) based on the maximum allowable GFA, says CBRE, the sole marketing agent. The portfolio will be sold in an Expression of Interest (EOI) exercise.
The sale of the portfolio of seven commercial shophouses is available for purchase by both local and foreign buyers, subject to approval. No Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) is payable on purchase….
