JLL has announced the sale of a two-storey conservation shophouse located at 42 Craig Road, Singapore, with an indicative guide price of $7.5m (S$10.25m). This property, situated in the Chinatown-Tanjong Pagar Conservation Area, offers a unique investment opportunity due to its prime location and heritage value. The sale will be conducted through an Expression of Interest exercise, commencing on 2 April 2025, with offers due by 6 May 2025.
The shophouse spans approximately 1,558 square feet of land and has a total floor area of 2,915 square feet. Currently, it is fully leased, with a hair salon on the ground floor and office space on the upper level, providing immediate rental income for potential investors. Notably, the property is exempt from Additional Buyer’s Stamp Duty and Seller’s Stamp Duty, enhancing its appeal.
Terry Wong, Senior Director of Capital Markets at JLL, highlighted the property’s unique features, stating, “With just 30 conservation shophouses along Craig Road, this is a rare opportunity to acquire a piece of Singapore’s heritage in a prime location.” The shophouse’s rear access to Duxton Plain Park offers flexibility for tenants to create a separate entrance or shop frontage.
The area is renowned for its vibrant culinary scene, featuring Michelin-starred restaurants and popular eateries, which contribute to strong foot traffic. Additionally, the precinct is undergoing significant transformation with developments like the Mondrian Singapore Duxton hotel and upcoming mixed-use projects, making it an attractive prospect for investors and end-users alike.
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