Savills Singapore, as the exclusive marketing agent, is proud to offer for sale 82, 83 & 84 Circular Road – a row of three adjoining 999-year shophouses situated within the Central Business District.
82 & 83 Circular Road are both two-storey conservation shophouses, while 84 Circular Road is a three-storey conservation shophouse. The three shophouses sit on a combined land area of 3,611 sq ft and have been amalgamated with an estimated total built-up area of approximately 7,386 sq ft.
Zoned “Commercial” and located within the Boat Quay Historic conservation area, the shophouses enjoy 100 per cent occupancy rate. They come with full concrete flooring, restaurant approvals on the ground floors and office use on the upper levels. Located in parallel to Boat Quay, Circular Road has always been a buzzling hotspot for dinning with constant foot traffic throughout both day and night.
The shophouses enjoy excellent accessibility with Raffles Place MRT Interchange station located merely two minutes’ walk away. It is also located surrounded by major office buildings such as CapitaSpring, UOB Plaza1 and 2, One George Street, OCBC Centre and One Raffles Place.
Ms. Yap Hui Yee, Director, Investment Sales & Capital Markets at Savills Singapore, said: “CBD shophouses have always been very well-sought after and have seen stellar growth since Phase 2 reopening in June 2020. 82,83 & 84 Circular Road thus enjoys competitive advantage due to its strategic location within a popular F&B stretch in the CBD that attracts not only lunch crowds but also patrons searching for dinner spot.”
The guide price for 82, 83 & 84 Circular Road is $28 million, which translates to approximately $3,790 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.
“Shophouses in the Circular Road / Boat Quay precinct have always been tightly held and extremely rare for a connecting row with excellent visibility frontage, to be available for sale. For contiguous row of adjoining shophouses, it gives the purchaser the flexibility to explore the change of uses potential and such assets are sought after as purchasers can be creative in the restoring of the space by leveraging on the larger floor plates. This is also an excellent opportunity for owner-occupiers such as family offices to acquire a charming flagship property with potential signage right in the heart of Central Business District for their own operations”, Ms. Yap added.
Watch the teaser video here.
The sale will be conducted through an Expression of Interest exercise which closes on Wednesday, 18 August 2021, at 3pm.