Heritage building on Norris Road for sale at $16 mil

A conservation building at 9 Norris Road is on the market for $16 million. The recently refurbished three-storey building is nestled within the Little India Historic District, and is among a handful of properties in that neighbourhood that is zoned for Civic & Community Institution use. According to Clemence Lee, executive director of Capital Markets at CBRE, the sale of this freehold asset is an “extremely rare” opportunity for investors to acquire a coveted freehold and conservation status property at a palatable quantum. CBRE has been appointed to market the sale of this heritage building. As it is a non-residential property, the purchase is open to foreigners and there will be no additional buyer’s stamp duty and seller’s stamp duty payable on the transaction. Read also: Joo Seng Road industrial property up for sale at $34 mil Advertisement Advertisement Lee says: “Sold with vacant possession, the one-of-a-kind property will also greatly appeal to users seeking to create unique concepts that complement its charismatic features.” The premises could be utilised by associations, a childcare centre or worker’s dormitory, subject to approvals. However, given the extensive restoration to the buildings interiors and modernisation works, the functional space is suitable as a performing arts centre, museum or filming studio, says Lee. The restored architectural elements provide a suitable backdrop for these community and civic activities, he says. The property at 9 Norris Road has a storied past as a site for community services. In the 1980s, it was a family service centre of the Asian Women’s Welfare Association. This is the second time in three years that the property has been put up for sale. In 2021, the property was a two-storey building that used to house the former Ramakrishna Mission Building. It was put up for sale together with an adjacent three-storey shophouse at 3 Norris Road. The two properties had a combined guide price of $16.5 million back then. Today, the building at 9 Norris Road sits on a 5,447 sq ft site and has a total built-up area of 9,688 sq ft. It has a prominent street frontage of about 15m along Norris Road. A search of the property’s ownership on public records shows that it is owned by 39 NR Pte Ltd, a holding company owned by Hafary Holdings, one of Singapore’s largest building material suppliers. Read also: Largest penthouse at The Nassim up for sale at $48 mil Advertisement Advertisement Local architectural firm OWAA oversaw the restoration and refurbishment of the property. According to a description of the project on its website, the existing central courtyard is covered with a new glass canopy that provides the building with a signature multi-volume, naturally illuminated performing atrium on the ground floor. The internal spaces have also been reconfigured and modernised into gallery spaces, practice studios, and function rooms that surround the central performing atrium. The conserved Moorish façade has been restored, and boasts timber louvred windows, cantilever balcony and domed roof turrets. The sale of 9 Norris Road will be conducted via an expression of interest exercise that closes on Aug 7.