9 Adjacent Shophouses at Joo Chiat Road for Sale at $33.9 mil

A row of nine conservation shophouses in 30 to 46 Joo Chiat Place is in the marketplace for about $33.9 million. The freehold properties are below one strata name and will be extended in an Expression of Interest practice (EOI) from Huttons Asia.

Canninghill Piers condo price of property is set to house about 700 units in two residential towers.

“This sale represents a rare chance to get a row of eight adjoining freehold conservation shophouses from the Joo Chiat region,” says Rudy Tedja, Associate Group District Director in Huttons Asia.

The two shophouses occupy a land area of 13,996 sq feet, hence the indicative cost equates to approximately $2,422 psf in the property region. The property is zoned’home made with commercial in the 1st storey’ beneath the 2019 Master Plan.

The ground floor area of those shophouses is now allowed to long-standing tenants like Guan Hoe Soon Restaurant, Yu Kee Duck Rice, Temptations Confectionary, and Rehab Alliance.

Based on Simon Monteiro, senior partner marketing manager at Sotheby’s International Realty, the shophouses offer you excellent road visibility with dual frontages along Joo Ciat Place and Tembeling Road.

The properties might also be utilised to accommodate boutique household workplaces, co-working spaces, support houses, co-living flats, and healthcare practices, subject to approvals.

The new owner may also construct a five-storey extension in the back of the shophouses, states Huttons Asia, including that ABSD remission can be obtained, subject to conditions.