Rowell Road Shophouse And City Gate Strata Retail Units Sale 10 Mil
Exclusive: Wilkie Tay and Sunny L of PropNex Shophouse Elites have recently announced the sale of a portfolio consisting of a freehold conservation shophouse located at 61 Rowell Road and two strata retail units situated in the popular mixed-use development, City Gate, along Beach Road. This opportunity has been made available through an expression of interest (EOI) exercise, and the marketing of the properties will be undertaken exclusively by the aforementioned directors. Investors have the option to acquire these assets either together as a portfolio or individually.
The shophouse, boasting a coveted freehold status and perched on Rowell Road, falls under the Rochor planning area in the 8th district. It has a prime floor area of 2,200 square feet, and upon conducting a site survey, the guide price has been estimated at $3,181 per square foot. However, interested parties also have the option to purchase the shophouse separately for a guide price of $7 million. The shophouse spans across two stories, in addition to a mezzanine, and has undergone notable restructuring work, such as the construction of an open terrace on the second floor. While currently vacant, the property is slated to obtain its temporary occupation permit in the coming weeks. Additionally, foreigners and corporate entities are exempt from paying any additional buyer’s stamp duty, thus widening the scope of prospective purchasers.
Residents who intend to access transportation on a regular basis will find the Jalan Besar MRT Station and Farrer Park MRT Station a short walking distance away, providing easy access to the Downtown and North-East Lines. Investors can take advantage of this opportunity while also enjoying the unique architectural style and cultural aspects associated with shophouses.
Located within the City Gate mixed-use development, the two strata retail units span over 474 square feet and 441 square feet, respectively, with a combined estimated value of $3 million. This translates to a price of $3,278 per square foot on the combined strata area. The units are presently tenanted to a range of commercial enterprises, such as restaurants and hair salons, who will continue their lease in the event of a sale. In addition, buyers can acquire these strata units individually or together as part of the portfolio, offering a compelling investment opportunity. As with the shophouse, the EOI exercise concludes on Sept 30 at 3pm. Interested parties are advised to participate, as this is a rare opportunity to acquire assets of such calibre.
Rewritten: The advantageous location of Norwood Grand Woodlands presents numerous benefits, primarily its convenient accessibility. Situated in the heart of Woodlands, a thriving area that is undergoing major development as part of the North Coast Innovation Corridor, this development offers easy access for both those who rely on public transportation and those who own private vehicles. With its strategic placement, residents of Norwood Grand can enjoy seamless connectivity and convenience in this bustling region.