The Urban Redevelopment Authority has approved 10 applications from shop-house owners to use their upper floors as offices and commercial schools. This follows the relaxation of rules to allow the premises to be used as offices and commercial schools. Property analysts said the take-up rate is encouraging. The use of shop-houses as business space is becoming popular, but the number of such units has not...
Shophouses
Some shophouses here are hoping to cash in on the success of recent en bloc sales. A row of 13 freehold shophouses at Owen Road have been put up for collective-joint sale. All the owners have agreed to the sale and the indicative price is in the region of S$43 million or about S$930 per square foot per plot ratio.Shoph There's also a development charge of some 1.25 million dollars. The 15,388 square...
The number of commercial units, typically shophouses and strata units for office and shops, sold in 1H 2010 remained similar to that in 2H 2009. A total of 495 commercial units were transacted in 1H 2010, reflecting a 4 per cent decrease compared to that in 2H 2009. Although economic conditions have tremendously improved in 1H 2010, the number of commercial properties transacted was subdued, underpinned...
Nine properties belonging to three companies that are under liquidation have been put up for sale by public tender. They were made available after the High Court of Singapore ordered their owning solvent family companies - Associated Development, Chow Cho Poon and Lee Tung Company - to wind up and liquidate in 2007. The liquidator, Mr Tam Chee Chong of Deloitte & Touche LLP, has appointed property...
Property consultancy Jones Lang LaSalle has launched the tender sale of five adjoining shophouses along Upper Bukit Timah Road. The asking price is between S$9.5 million and S$10 million for the group of properties located near Bukit Panjang Plaza, the future Ten Mile Junction development and The Rail Mall. The price translates to S$408 to S$426 per square foot per plot ratio. The tenanted, freehold...
INDOCHINE pub and restaurant chain owner Michael Ma went to the High Court yesterday in a bid to reclaim $386,000 he had paid for the option to buy five conservation shophouses. He had handed over 5 per cent of the Tanjong Katong Road shophouses' total worth of $7.7 million thinking he could buy them for commercial use. But he later found out they were partially restricted to residential use. Mr Ma...
A cluster of 18 shophouses fronting Joo Chiat Road and Onan Road has been sold to property developer World Class Land for S$25.6 million. This translates to S$410 per square foot on the existing gross floor area of the properties. World Class Land is a unit of public-listed Aspial Corp. The freehold site consists of two back-to-back rows of nine shophouses, each three-storeys tall. The total gross...
The Urban Redevelopment Authority (URA) has decided to keep the existing guidelines where live music and performances are not allowed in restaurants and pubs located in private shophouses near residential estates. URA's decision followed the feedback it received from a public consultation exercise. It launched an online survey in September last year to gather the public's views on the planning guidelines...
Property consultants Credo Real Estate has just released a unique cluster of 18 shophouses in the Joo Chiat area for sale by tender. The properties are owned by a family trust, who is seeking offers in the region of S$25 to S$30 million. The cluster consists of two back-to-back rows of nine units of freehold three-storey shophouses which are part of the gazetted Joo Chiat Conservation area. One row faces...
The Urban Redevelopment Authority (URA) is reviewing guidelines for restaurants and pubs located in private shophouses near residential areas. It is asking for public feedback on whether entertainment activities should be freely allowed at those premises. For the past 20 years, Lai Fak Nian, managing director of Plum Village Restaurant, has been thinking of various ways to entertain customers and spur...