reporter2
14-07-18, 00:38
Four freehold shophouses on Macpherson Road put on sale
Fri, Jul 13, 2018
Tan Hwee Hwee
COMMERCIAL real estate services and investment firm CBRE has launched for sale four freehold shophouses on Macpherson Road, via an expression of interest exercise.
The four properties comprise an intermediate two-storey shophouse, two adjoining two-storey shophouses, and a corner two-storey shophouse.
They are zoned "Residential with Commercial at 1st-storey" with a gross plot ratio of 3.0 and a building height up to four storeys. With a total site area of about 6,089 sq ft or individual land size of about 1,500 to 1,529 sq ft, they can be redeveloped to a maximum gross floor area of about 18,267 sq ft.
CBRE is the sole marketing agent for this EOI exercise and the properties are offered for sale on a portfolio bundle or individual basis. The EOI exercise will close at 3pm on August 8, 2018.
CBRE director of capital markets Sammi Lim said the properties offer high visibility and come with existing F&B approvals, both considered a rarity in today's market.
"We expect keen interest from developers, contractors, family offices and private equity funds that are actively seeking well-located freehold shophouses to add to their land bank. These shophouses will also appeal to investors seeking income-producing properties for immediate rental income to capitalise on the strong rental upside." (see amendment note)
The shophouses are currently fully tenanted and offer immediate rental income stream. Three of the ground floor units are leased to F&B operators and the fourth unit is tenanted to a minimart.
They are about seven minutes' walk from Tai Seng MRT station and a five-minute drive from Bidadari Estate, a 93 hectare housing estate which is under development.
Fri, Jul 13, 2018
Tan Hwee Hwee
COMMERCIAL real estate services and investment firm CBRE has launched for sale four freehold shophouses on Macpherson Road, via an expression of interest exercise.
The four properties comprise an intermediate two-storey shophouse, two adjoining two-storey shophouses, and a corner two-storey shophouse.
They are zoned "Residential with Commercial at 1st-storey" with a gross plot ratio of 3.0 and a building height up to four storeys. With a total site area of about 6,089 sq ft or individual land size of about 1,500 to 1,529 sq ft, they can be redeveloped to a maximum gross floor area of about 18,267 sq ft.
CBRE is the sole marketing agent for this EOI exercise and the properties are offered for sale on a portfolio bundle or individual basis. The EOI exercise will close at 3pm on August 8, 2018.
CBRE director of capital markets Sammi Lim said the properties offer high visibility and come with existing F&B approvals, both considered a rarity in today's market.
"We expect keen interest from developers, contractors, family offices and private equity funds that are actively seeking well-located freehold shophouses to add to their land bank. These shophouses will also appeal to investors seeking income-producing properties for immediate rental income to capitalise on the strong rental upside." (see amendment note)
The shophouses are currently fully tenanted and offer immediate rental income stream. Three of the ground floor units are leased to F&B operators and the fourth unit is tenanted to a minimart.
They are about seven minutes' walk from Tai Seng MRT station and a five-minute drive from Bidadari Estate, a 93 hectare housing estate which is under development.