Rowell Road shophouse and City Gate strata retail units for sale at $10 mil

SINGAPORE (EDGEPROP) - A portfolio comprising a freehold conservation shophouse on 61 Rowell Road and two strata retail units at the City Gate mixed-use development on Beach Road has been put up for sale for $10 million. The properties are available via an expression of interest (EOI) exercise and are being exclusively marketed by directors of PropNex Shophouse Elites Wilkie Tay and Sunny L. The assets can be sold together or separately. If sold separately, the guide price of the shophouse is $7 million, while the guide price of the commercial spaces is $3 million. The shophouse comprises two storeys and a mezzanine and is located within the Desker Road conservation area in Rochor, District 8. It has a total floor area of 2,200 sq ft, subject to a site survey, which means the guide price translates to $3,181 psf. The shophouse has completed additions and alterations, including the construction of an open terrace on the second floor. It is currently vacant and is expected to receive its temporary occupation permit in a few weeks. Read also: DB2 offers final eight ground-floor strata retail units at Plus for sale from $3.8 mil Advertisement Advertisement The shophouse is within walking distance of the Jalan Besar MRT Station on the Downtown Line and Farrer Park on the North-East Line. Foreigners and corporate entities can purchase it without additional buyer’s stamp duty. The strata retail units are located within the City Gate mixed-use development, which includes 311 residential units and 188 retail units. They measure 474 sq ft and 441 sq ft, respectively. With a guide price of $3 million, this works out to $3,278 psf on the combined strata area. The units are currently leased to various businesses, including a restaurant and a hair salon and will be sold with these tenants in place. The two retail units can be sold either together or individually. The EOI exercise closes on Sept 30 at 3pm. Check out the latest listings for City Gate properties