A ROW of six adjoining three-storey shophouses along Joo Chiat Road has been put for sale via public tender, real estate services firm CBRE said on Wednesday afternoon. Read more at The Business Times.
PHOTO: CBRE
A ROW of six adjoining three-storey shophouses along Joo Chiat Road has been put for sale via public tender, real estate services firm CBRE said on Wednesday afternoon. To be sold as a bundle, the conservation shophouses are located at 454, 456, 458, 460, 462, and 464 Joo Chiat Road. They sit on a freehold site of about 7,400 square feet and the total existing built-up area is around 13,000 sq ft.
The property is zoned for commercial use with a plot ratio of 3.0 and a maximum allowable gross floor area of some 22,200 sq ft, under the Urban Redevelopment Authority’s Draft Master Plan 2019.CBRE said the buyer can choose to either immediately receive stable rental income based on the current GFA, or value-add to the property and fully maximise the allowable GFA by building a rear extension, subject to the authorities’ approval.
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