Pair of North Canal Road shophouses for sale at $8.5 mil
Next door, the shophouse at 43 North Canal Road is a two-storey real estate with a built-up area of concerning 3,290 sq ft. It extends a land area of 1,838 sq ft, with capacity for a back expansion– based on approval from authorities– that would boost the built-up area approximately a maximum of 7,720 sq ft, based on the 4.2 plot ratio.
The EOI will close at 3pm on Sept 30.
He anticipates the properties to attract strong attraction from both standard shophouse financiers and operators reassessing the location following URA’s policy change. “At $8.5 million for both units, this is a fairly accessible entry point for a shophouse couple with this sort of frontage and scale,” he states.
The shophouse at 42 North Canal Road is a five-storey real estate with an approximated built-up area of around 6,360 sq ft. Occupying a 1,669 sq ft land parcel, it has a story proportion of 4.2. This suggests the shophouse’s built-up area could potentially be expanded to roughly 7,009 sq ft.
The properties are a three-minute walk away from Clarke Quay MRT Stop, while the Chinatown MRT Interchange is about five minutes away walking.
A pair of adjoining conservation shophouses situated at 42 and 43 North Canal Road in the Boat Quay precinct have already been introduced for sale with an expression of interest (EOI) exercise. The shophouses– both 99-year leasehold commercial properties– have a mixed guide cost of $8.5 million.
Both shophouses are currently completely tenanted. With each other, they have a combined built-up area of around 9,650 sq ft, which indicates the guide price works out to $881 psf.
Kassia Condo showflat location
The shophouses belong to a surge of saved business buildings that have actually taken place the market considering that URA relaxed constraints on accommodation-led uses in the Beach Road and Upper Circular Road Sanctuary in June. The North Canal Road shophouses fall under the last.
Loyalle Chin, founder of Steward Asia, a group under PropNex Real estate that is promoting the real properties, notes that buyers could discover integrating the shophouses and applying for a modification of use to resort or serviced apartments.
