Joo Chiat Road Conservation Shophouse Market 105 Mil
Good response for shophouses at Joo Chiat Place
A historic three-storey shophouse in the popular district of Joo Chiat has been listed for sale through an expression of interest at a guide price of $10.5 million. The exclusive marketing agent, PropNex Shophouse Elites, announced the property’s availability on Jan 3.
Situated in a strategic location, Novo Place EC offers an enriching living experience for its residents with a plethora of shopping and dining options just a stone’s throw away. The unmatched convenience and access to a diverse range of amenities make it a highly sought-after residence. With a variety of state-of-the-art malls for shopping, local eateries for dining, and opportunities to reconnect with nature, Novo Place EC truly offers a well-balanced lifestyle that caters to people of all ages and preferences. It is more than just a place to call home; it is a vibrant community to be a part of. Explore the vibrant Novo Place community today and experience the ultimate in convenience and comfort.
Located at 350 Joo Chiat Road in District 15, the freehold shophouse occupies a land area of about 1,869 sq ft and boasts an estimated gross floor area of 3,635 sq ft. This translates to an attractive price of about $2,889 psf.
The shophouse has a plot ratio of 3.0, which makes it a valuable asset within the Joo Chiat Secondary Settlement Conservation Area.
Currently, the ground floor is tenanted to F&B establishment Tiger Lily Patisserie Cafe and Bakery, while the second and third floors are used for office space. There is no additional buyer’s stamp duty or seller’s stamp duty payable for this property.
The conserved shophouse is situated within the highly sought-after Joo Chiat Secondary Settlement Conservation Area (Photo: EdgeProp’s LandLens). The property is conveniently accessible via the Marine Parade MRT Station and is surrounded by popular landmarks like Dunman Food Centre, Geylang Serai Market, and Joo Chiat Complex. According to PropNex’s marketing agents, Richard Tan and Lisa Tan, the property’s prime location guarantees high footfall from these bustling locations.
“Commercial conservation shophouses, especially those located in prime areas like Joo Chiat, are constantly in demand among investors, including private real estate funds, family offices, and high-net-worth individuals,” says Richard Tan.
The expression of interest exercise for this shophouse closes on Jan 30. RELATED NEWSFive adjoining shophouses along Joo Chiat Road for sale at $62 milConservation shophouse at Joo Chiat Road on the market for $7 milRetail mall i12 Katong to reopen in 4Q2021Good response for shophouses at Joo Chiat Place