The properties can be purchased either individually or as a portfolio.

The commercial shophouses are located within District 1 at Ann Siang Road, and District 2 at Keong Saik Road, while the residential unit is situated at Neil Road.

The guide price for 13 Ann Siang Road is S$9.1 million or about S$3,687 per square foot (psf), while the guide price for 18 Ann Siang Road is S$13.8 million (S$3,190 psf).

The two 999-year leasehold shophouses are located near the junction of Ann Siang Road and Ann Siang Hill. They are also within the Telok Ayer conservation area, with the upcoming Maxwell MRT station about 250 metres away.

13 Ann Siang Road is a two-storey shophouse with attic. It has a land area of about 116.1 square metres (1,250 sq ft) and a built-up area of about 229.3 sq m (2,468 sq ft). It was retrofitted some years ago and is fully tenanted.

18 Ann Siang Road is a three-storey shophouse with a basement. It has a land area of about 127 sq m (1,367 sq ft) and built-up area of approximately 401.92 sq m (4,326 sq ft). The ground floor space of the shophouse is currently leased as a food and beverage (F&B) outlet, while the upper floors are leased to a consultancy firm.

The third shophouse is at 3 Keong Saik Road, with a guide price of S$9.6 million or about S$2,967 psf. It is a three-storey corner shophouse off Neil Road in the Bukit Pasoh Conservation Area, and within walking distance to Outram Park MRT station.

With a land area of about 119.61 sq m (1,287 sq ft) and a built-up area of about 300.64 sq m (approx. 3,236 sq ft), it is currently leased as service offices. The property is within walking distance to F&B outlets and boutique hotels in the neighbourhood, with The Working Capitol operating co-working spaces in the adjacent block.

All three shophouses are zoned for commercial use under the Master Plan 2019. The sale is open to both locals and foreigners, with no additional buyer’s stamp duty imposed on the purchase of the properties.

Ian Loh, head of investment and capital markets (land, building & collective sales) at Knight Frank Singapore noted that recent freehold commercial shophouse transactions in Districts 1 and 2 have been in the range of S$3,500 psf to S$3,900 psf. “With rental income and pragmatic guide prices, these properties are appealing assets to acquire,” Mr Loh said.

The expression of interest exercise for the three shophouses will close at 3pm on April 15.

The only residential property in the portfolio is located at 141 Neil Road, with a guide price of about S$5.9 million, or S$1,217 psf.

It is a two-storey intermediate terrace house with an attic. According to Knight Frank, the property in the Blair Plain conservation area is not commonly available for sale, as such houses are usually held as heritage family homes.

The property has a land area of 296.6 sq m (3,193 sq ft) and built-up area of about 447.2 sq m (4,816 sq ft). The interior of the freehold house remains in its original condition, with intricate motifs and decorative floor tiles, Knight Frank said. The residential property is within a five-minute drive to the central business district. It is also within walking distance to Outram MRT station and the upcoming Cantonment MRT station.

Mary Sai, executive director of investment and capital markets at Knight Frank Singapore said: “Despite the Covid-19 outbreak, real estate transactions have continued, especially for properties with freehold or 999-year tenures that are in prime locations. Unsurprisingly, this may be because they are largely deemed as assets with the potential for appreciation over the long term. We believe the response from savvy investors and buyers for the properties will be encouraging.”

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The shophouse comes with an attic and has a land area of 1,413 sq ft, real estate firm Collier’s International said on Monday. It also has 99-year leasehold tenure with effect from July 4, 1989.

Colliers understands that the shophouse’s owner has engaged an architect to review potential additions and alterations work which could add around 602.5 sq ft to the gross floor area. This brings the overall pricing down to below S$2,500 psf.

Additional buyer’s stamp duty and seller’s stamp duty (SSD) are not applicable due to the shophouse’s commercial use zoning.

Currently, the ground floor of the shophouse is leased to an entertainment establishment which has been occupying the space for the past 15 years.

The lease for the second floor to another tenant will be expiring at end-2019. Subject to approval from the Urban Redevelopment Authority, the floor may be used for restaurant, clinic, commercial school, gym/fitness centre, night club, karaoke, student hostel, and residential use, potentially co-living concepts.

Steven Tan, Colliers International director of capital markets and investment service, said a heightened interest in shophouses has been seen since new cooling measures were introduced in July 2018.

“Those in prime areas are considered a good investment option owing to their superior location, healthy pedestrian traffic, and the vibrant activities in the vicinity. Generally, shophouses also see good leasing demand and enjoy relatively good return,” he added.

The shophouse will be offered for sale at an auction to be held at 2.30pm on Sept 30 at Amara Singapore, Level 3, Connection Room.

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The two-storey Neil Road shophouse has a guide price of S$15.5 million. It includes a basement and attic level, and sits on a freehold site of about 1,587 square feet (sq ft), with a total built-up area of about 4,197 sq ft.

The two-storey Jalan Besar shophouse has a guide price of S$5.65 million and occupies a land area of about 1,173 sq ft, with a built-up area of around 1,901 sq ft.

The shophouse has permanent food and beverage (F&B) approval for its ground floor and recently underwent asset refurbishment works. Refurbishment works include the installation of a new M&E (mechanical and electrical) and air-conditioning system, as well as refreshed building interiors.

Interested buyers may purchase the freehold properties together or separately. Both properties are zoned “commercial” under the Urban Redevelopment Authority’s 2019 Draft Master Plan, with no additional buyer’s stamp duty or seller’s stamp duty imposed on local or foreign buyers.

CBRE associate director of capital markets Yap Hui Yee said the two conservation shophouses will appeal to end-user occupiers seeking the property as their business premises as they are able to take over the space immediately. Both shophouses also enjoy prominent road frontages.

Ms Yap added that interest is also expected from both local and foreign investors actively looking for commercial shophouses with unique architecture exuding heritage charm for capital appreciation in the medium to long term.

The expression of interest exercise closes on July 18 at 3pm.

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