Joo Chiat shophouses offered for $100m

The seven adjoining properties span 8,442 square feet of land in the heritage precinct.

A row of seven adjoining freehold shophouses at the intersection of Joo Chiat Road and East Coast Road has been put up for sale at a guide price of $100m.

The Expression of Interest exercise for 452, 454, 456, 458, 460, 462, and 464 Joo Chiat Road closes on 24 September at 12 p.m., with CBRE as the exclusive marketing agent.

The two-storey conservation shophouses, which have third-storey rear extensions, sit on a combined land area of about 8,442 square feet (sq ft) and have an existing gross floor area (GFA) of about 15,056 sq ft.

The site is zoned “Commercial” under the Master Plan 2025, with a plot ratio of 3.0 and maximum allowable GFA of about 25,326 sq ft.

A five-storey rear extension could allow the site to maximise its allowable GFA, subject to approval from the relevant authorities.

The guide price translates to about $3,948 per sq ft based on the maximum allowable GFA.

The property is available to local and foreign buyers, subject to relevant approvals. No Additional Buyer’s Stamp Duty or Seller’s Stamp Duty will be payable on the purchase.

CBRE said several of the shophouses have permanent food and beverage (F&B) approvals. The properties are located near i12 Katong, Parkway Parade, Joo Chiat Complex, Haig Girls’ School, Tanjong Katong Girls’ School, and CHIJ (Katong) Primary.

The row is about an eight-minute walk from Marine Parade MRT station on the Thomson-East Coast Line and a 15-minute drive from the Central Business District. It is also near the East Coast Parkway and Kallang-Paya Lebar Expressway.

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