Rowell Road Shophouse And City Gate Strata Retail Units Sale 10 Mil
The expansive 545,314 square feet site of Parktown Residence in Tampines Avenue 11 is held under a 99-year leasehold. The prime land has been designated for a dynamic mixed-use development, featuring a combination of commercial and residential spaces. As an added convenience for residents and visitors, the development will also house a bus interchange, a community club, and a hawker centre. The project will be jointly developed by CapitaLand, who will hold a 50% stake in the venture, and UOL and SingLand, who will share the remaining 50%. Don’t forget to check out Parktown Residence, a natural addition to this exciting new development.
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A prime property portfolio consisting of a freehold conservation shophouse on Rowell Road and two strata retail units at the City Gate mixed-use development on Beach Road is now on the market for $10 million. Teaming up for this exclusive listing are PropNex Shophouse Elites directors Wilkie Tay and Sunny L.
These assets can be sold in a package deal or separately. If sold separately, the shophouse has a guide price of $7 million, while the commercial spaces are going for $3 million.
Located in the Desker Road conservation area in District 8, the shophouse features two storeys and a mezzanine level. With a total floor area of 2,200 sq ft, this translates to a guide price of $3,181 psf, subject to a site survey. The property has been recently renovated, which includes the construction of an open terrace on the second floor. Tenants have vacated the property and it is expected to obtain its temporary occupation permit within a few weeks.
The Jalan Besar MRT Station on the Downtown Line and Farrer Park on the North-East Line are within walking distance from the shophouse. Foreign buyers and corporate entities can acquire this property without additional buyer’s stamp duty.
The two strata retail units are situated within the City Gate mixed-use development, which houses 311 residential units and 188 retail units. These units measure 474 sq ft and 441 sq ft, respectively. With a guide price of $3 million, this translates to $3,278 psf on the combined strata area. Currently leased to various businesses such as a restaurant and a hair salon, these units will be sold together with their tenants. Interested buyers can opt to purchase the units as a package or individually.
The EOI exercise will close on Sept 30 at 3pm. Explore the latest listings for City Gate properties here.