Tastefully refurbished shophouse with 999-year tenure in the heart of Raffles Place Financial District for sale.
31 August 2021– Savills Singapore, as the exclusive marketing agent, is pleased to offer for sale 17 Circular Road – a three-storey conservation shophouse situated within the prime Boat Quay Historic Conservation District.
17 Circular Road sits on a land area of approximately 950 square feet and has a total build-up of approximately 2,760 square feet. Enjoying full concrete flooring with balcony and rare permanent “Restaurant” approval on the ground floor, the shophouse is fully leased to strong and diversified tenants. The ground floor is occupied by an F&B tenant while the second floor is approved as shop and the third floor houses a gym.
Just a stone’s throw away from the Singapore River, 17 Circular Road is located in the heart of the vibrant and bustling Boat Quay locale. The shophouse enjoys excellent accessibility with Raffles Place MRT Interchange station which is two minutes’ walk. Surrounded by major office buildings, such as CapitaSpring, UOB Plaza 1 and 2, One George Street, OCBC Centre and One Raffles Place, the shophouse is well positioned to capture the large catchment of employees working in the vicinity.
Ms. Yap Hui Yee, Director, Investment Sales & Capital Markets at Savills Singapore, said: “As Singapore emerges from Phase 2 (Heightened Alert) with an estimated 70% of the population completing the two doses of vaccine, we foresee the office crowd returning to the CBD. With its strategic location enjoying high footfall throughout the day and diversified tenants, 17 Circular Road is an exceptional investment opportunity as Singapore transitions towards COVID resilience.”
The guide price for 17 Circular Road is $10.8 million, which translates to approximately $3,913 per square foot on the floor area. As the shophouse is zoned “Commercial”, foreigners and companies are eligible to purchase the properties. 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 highly sought after due to their prime location. With stable rental income stream and a 999-year tenure which is akin to freehold, 17 Circular Road is a rare find in today’s market”, Ms Yap shared.
The sale will be conducted through an Expression of Interest exercise which closes on Thursday, 30 September 2021, at 3pm.