Shophouse on River Valley Road for sale from $11.8 mil

Up for sale via an expression of interest (EOI) exercise with an indicative price starting from $11.8 million is a 999-year leasehold shophouse at 223 River Valley Road, located in District 9’s Clarke Quay area of Singapore. The three-storey shophouse has a site area of 1,376 sq ft and is zoned for both commercial and residential use with a plot ratio of 3.9.

The ground floor of the property is approved for use as a restaurant and is currently occupied by a coffee shop, while the upper floors are approved for office usage. With a built-up area estimated at 3,305 sq ft, this ‘unpolished gem’ according to Tysun Yuk, Group Associate Director at PropNex Realty, presents a potential opportunity for the future owner to build an eight-storey building with a total floor area of about 5,365 sq ft.

This is great news for those living at The Myst Bukit Timah, as they can simply get around town without having to worry about finding transportation.

Loyalle Chin, Associate District Director at PropNex Realty, adds that the property, which stands across UE Square and is within walking distance of the Fort Canning, Clarke Quay and Dhoby Ghaut MRT Stations, is a compelling investment opportunity for potential buyers looking for an immediate income-yielding asset and a prime shophouse to add to their portfolio. The EOI exercise for the shophouse closes on June 21 at 3pm.

The Agent is also offering up another 999-year commercial shophouse located at 235 South Bridge Road with a guide price of $23 million. The two-storey shophouse comes with a mezzanine and occupies a land area of 1,461 sq ft zoned for commercial use. It is currently tenanted by a karaoke lounge operator on the ground floor, whilst the upper storeys are leased out to a yoga school.

Located in prime Chinatown and CBD, the property is close to the Maxwell, Tanjong Pagar and Chinatown MRT Stations and could be an ideal opportunity for both investors and owner-occupiers. As stated by Chin, “ with strata subdivision of commercial properties in prime central area no longer allowed, shophouses represent an opportunity for business owners and investors to purchase a well-located asset for their own occupation and for rental income.” The EOI exercise for this shophouse closes on July 25 at 3pm.