Two-storey shophouse along Cantonment Road up for EOI
A two-storey commercial shophouse (pictured) along Cantonment Road has been put up for sale by expression of interest (EOI), its marketing agent Cushman & Wakefield announced today.
Located at 27 Cantonment Street, the freehold intermediate commercial shophouse features a mezzanine floor and attic. It comes with a land area of 1,374.55 sq ft and a built-in area of 3,065 sq ft.
Currently used as an office, the property which is located along a row of conservation shophouse in Bukit Pasoh (Chinatown) Conservation Area will be sold with vacant possession.
Shaun Poh, Executive Director of Capital Markets at Cushman & Wakefield said: "Notwithstanding the impact of the Total Debt Serving Ratio (TDSR) across the overall property market, freehold commercial shophouses in prime districts are still highly sought after by investors and owner-occupiers, especially when office rents have been trending up in the past 9 months," adding that shophouse investments also provide stable recurring income with strong demand from office tenants seeking to set up their offices in historical properties in prime districts.
The property has an indicative price of S$7.5 million and the EOI exercise will close on 28 August.
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this and other stories, email nikki@propertyguru.com.sg
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