Heritage Building Norris Road Sale 16 Mil
A rare opportunity has arisen for investors to acquire a coveted freehold and conservation status property in the Little India Historic District. The recently refurbished three-storey building located at 9 Norris Road is now on the market for a price of $16 million.
According to Clemence Lee, executive director of Capital Markets at CBRE, the sale of this property is a highly sought-after opportunity for investors. As one of the few properties in the neighborhood zoned for Civic & Community Institution use, the building’s freehold status is a highly attractive feature.
CBRE has been appointed to market the sale of this heritage building, and due to its non-residential status, the purchase is open to foreigners. This also means that there will be no additional buyer’s stamp duty or seller’s stamp duty payable on the transaction.
Lee said, “The premises, sold with vacant possession, will be particularly appealing for those looking to create unique concepts that complement its charming features.” The building’s potential uses include associations, a childcare center, or a worker’s dormitory, subject to necessary approvals.
The recent refurbishment of the building includes a new covered performance atrium on the ground floor, which serves as the centerpiece of the restoration. Lee also mentioned that given the building’s extensive renovation and modernization works, it can also serve as a performing arts center, museum, or filming studio. The restored architectural elements provide an ideal backdrop for various community and civic activities.
The property at 9 Norris Road has a rich history of serving as a site for community services. In the 1980s, it was a family service center for the Asian Women’s Welfare Association.
This is the second time in three years that the property has been put up for sale. In 2021, it was a two-storey building that was home to the Ramakrishna Mission Building. It was previously listed for sale together with an adjacent three-storey shophouse at 3 Norris Road, with a combined guide price of $16.5 million.
Currently, the building at 9 Norris Road sits on a 5,447 sq ft site and has a total built-up area of 9,688 sq ft. It boasts a prominent street frontage of approximately 15 meters along Norris Road.
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Public records show that the property is owned by 39 NR Pte Ltd, a holding company owned by Hafary Holdings, one of Singapore’s largest building material suppliers.
The restoration and refurbishment of the building were overseen by local architectural firm OWAA. According to the firm’s website, the central courtyard has been covered with a new glass canopy, creating a signature multi-volume, naturally illuminated performing atrium on the ground floor. The internal spaces have also been reconfigured and modernized into gallery spaces, practice studios, and function rooms surrounding the central atrium. The conserved Moorish façade has been impeccably restored, featuring timber louvred windows, a cantilever balcony, and domed roof turrets.
The sale of 9 Norris Road will be carried out through an expression of interest exercise, with a closing date of August 7th.