Recent shophouse transactions:
A Hongkong Street shophouse changed hands at S$14.45 million | S$1,780 psf.
Address: 31 Hongkong Street
Gross floor area (GFA) of about 8,100 sq ft.
Site area: 1,747 sq ft.
Tenure remaining: 91 years.
Intended use: Food and beverage (grd level)
A shophouse transacted earlier in March this year:
Address: 39 Hong Kong Street was transacted at S$1,899 psf on GFA.
Tenure remaining: 97 years.
Intended use: Restaurant by Bacchanalia
There is no untapped GFA for both units based on the 4.2 plot ratio designated for the area.
Hongkong Street is part of the Upper Circular conservation area. The front of the building for the secondary settlement has to be conserved but the rear can go up to six storeys. The area is zoned for commercial use under the Urban Redevelopment Authority's Master Plan 2014.
The location is being revitalised with the entry of new F&B operators. It is also near the Clarke Quay MRT Station and CBD.
Other recent shophouse deals:
OCBC sold two adjoining shophouses at 743 and 745 Havelock Road for S$12.11 million and 382 Geylang Road for S$5.1 million.
Bamboo Group sold 3 properties in an auction last week.
1. A 2-storey freehold corner shophouse at 362 Tanjong Katong Road was sold for S$6.35 million last week in an auction.
2. Two strata, 9,999-year leasehold, ground floor commercial units at 1 and 1B Figaro Street were sold together for S$6.45 million.
Source: Business Times