Boat Quay conservation shophouse up for sale with S$18.8 million guide price

Citi Commercial Pte Ltd

A CONSERVATION shophouse at 10 Lorong Telok has been put up for sale with a guide price of S$18.8 million via an expression of interest on Tuesday (Aug 23).

Nestled within the Boat Quay conservation area, the 3-storey plus attic property has a land size of about 1,410 square feet (sq ft) and a built-up area of about 4,000 sq ft, said exclusive marketing agent Huttons Asia.

The ground floor, which has a floor to ceiling height of 4.5 metres, is currently tenanted to a food and beverage operator. The second level is being used as an office, while the third floor is occupied by a yoga gym operator.

With a leasehold of 999 years, the shophouse has been zoned “commercial” under the Urban Redevelopment Authority Master Plan, which means buyers are not subjected to additional buyer’s stamp duty and foreigners will also be eligible to purchase.

Goods and services tax will not be levied on the purchase of the shophouse, said Huttons Asia.

“Shophouses in the prime CBD (Central Business District) area are increasingly popular among MNCs (multinational corporations), offices, aesthetic clinics, law firms and accountancy firms,” said Aric Lim, group division director of Huttons Asia.

“Many operate at level 2 or 3 of these shophouses as they are more flexible in terms of operating hours as well as lease agreements,” he added.

Interested buyers should note that the expression of interest exercise will close on Sep 14 at 3 pm.

More News