Savills Singapore, as the exclusive marketing agent, is proud to offer for sale 38, 39 Craig Road – a pair of tastefully refurbished shophouses with a private courtyard and terrace garden.
38, 39 Craig Road comprises of a pair of three-storey conservation shophouses with attic and features a rare terrace garden and private courtyard. The shophouses sit on a combined land of approximately 3,726 sq ft, with an estimated total built up area of approximately 9,817 sq ft.
Having undergone a major refurbishment in 2017, the interior has been beautifully designed and offers a modern refuge that contrasts and pairs well with the building’s ornamental exterior. Using quality marble and oak wood finishing, the strong design element exudes a contemporary and sleek elegance.
Zoned “Commercial” within the Chinatown – Tanjong Pagar historic conservation area, 38, 39 Craig Road is fully tenanted and boast of strong tenant profiles with a Michelin star restaurant on the ground floor and reputed MNC tenants on the upper floors.
Conveniently situated between the Duxton Hill and Keong Saik F&B enclave, the shophouses enjoy excellent accessibility with Tanjong Pagar MRT, Outram Park Interchange and the upcoming Maxwell MRT station within a few minutes’ walk. Popular establishments in the immediate vicinity include Shake Shack just next door, The Working Capitol, and the upcoming mixed-used development on the former Chinatown Plaza site.
Ms. Yap Hui Yee, Director, Investment Sales & Capital Markets at Savills Singapore, said: “This is a rare opportunity for buyers to purchase an exquisite pair of heritage shophouses that have been thoughtfully designed and equipped with excellent specifications. Primely located near the junction of Neil Road and Craig Road, the immediate vicinity is undergoing rejuvenation with the opening of Shake Shack next door and the upcoming mixed-development consisting of retail and hotel on the former Chinatown Plaza site”
The guide price for 38, 39 Craig Road is $31 million, which translates to approximately $3,157 per square foot on the floor area. Foreigners and companies are eligible to purchase the properties and no Additional Buyer Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) will be imposed.
The sale will be conducted through an Expression of Interest exercise which closes on Tuesday, 8 December 2020, at 3pm.