Shophouse on River Valley Road for sale from $11.8 mil

May 24, 2023

A 999-year leasehold shophouse at 223 River Valley Road in District 9’s Clarke Quay area is up for sale via an expression of interest (EOI) exercise with an indicative price starting from $11.8 million.

The three-storey shophouse has a site area of 1,376 sq ft that is zoned for commercial and residential use with a plot ratio of 3.9. The property has an existing built-up area estimated at 3,305 sq ft, subject to a site survey. The ground floor has approved usage as a restaurant and is currently occupied by a coffee shop. The upper floors are approved for office usage.

The shophouse is located across UE Square, and is within walking distance of the Fort Canning, Clarke Quay and Dhoby Ghaut MRT Stations.

According to the property’s marketing agents, the future owner could potentially build an eight-storey building with a total floor area of about 5,365 sq ft on the site. “The property is an unpolished gem with value-add opportunities. One may explore redeveloping to maximise its potential gross floor area,” comments Tysun Yuk, group associate director at PropNex Realty.

Loyalle Chin, associate district director at PropNex Realty, adds: “Given the property’s excellent attributes and price quantum, 223 River Valley Road is a compelling investment opportunity for buyers looking for an immediate income-yielding asset and a prime shophouse to add to their portfolio.”

The EOI exercise for 223 River Valley Road will close on June 21 at 3pm.

Separately, Chin is also marketing another 999-year commercial shophouse located at 235 South Bridge Road. The property, which is up for sale through an EOI exercise, has a guide price of $23 million.

The two-storey shophouse comes with a mezzanine and occupies a land area of 1,461 sq ft zoned for commercial use. It is currently tenanted by a karaoke lounge operator on the ground floor, while the upper storeys are leased out to a yoga school.

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