Rowell Road Shophouse And City Gate Strata Retail Units Sale 10 Mil
A portfolio of properties including a freehold conservation shophouse on 61 Rowell Road and two strata retail units at the City Gate mixed-use development on Beach Road has been put up for sale for $10 million. This opportunity is available through an exclusive offering from PropNex Shophouse Elites Wilkie Tay and Sunny L.
These properties are available for sale as a package or separately. The shophouse has an asking price of $7 million while the retail units are available for $3 million. The shophouse is a two-story building with a mezzanine located within the Desker Road conservation area in Rochor, District 8. It offers a total floor area of 2,200 sq ft, with a guide price of $3,181 psf based on a site survey. The shophouse has completed renovations, including the addition of an open terrace on the second floor. It is currently empty and expected to receive its temporary occupation permit within a few weeks.
The property is within walking distance of Jalan Besar MRT Station on the Downtown Line and Farrer Park on the North-East Line. The shophouse can be purchased by foreigners and corporate entities without incurring additional buyer’s stamp duty.
The strata retail units, located within the City Gate mixed-use development, consist of 311 residential units and 188 retail units. The two units measure 474 sq ft and 441 sq ft, respectively. With a guide price of $3 million, the combined strata area is available for a price of $3,278 psf.
Currently, both units are tenanted to various businesses, including a restaurant and a hair salon. The sale will include these tenants, and the units can be bought together or separately. The EOI exercise will close on Sept 30 at 3pm. For more information on these properties, visit the latest listings for City Gate.
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