Photo of 45 Duxton Road (Source: Huttons Asia)
A conservation shophouse at 45 Duxton Road is up for sale via an expression of interest with a guide price of $9.8 million.
The property is located within the Tanjong Pagar conservation area and is zoned commercial under the URA Master Plan. The two-storey shophouse is within walking distance to both Tanjong Pagar MRT and Maxwell MRT stations.
It has a 99-year lease from 1988 with a balance lease of approximately 64 years. The land size and built-up area is approximately 980 sq ft and 1,636 sq ft, respectively. The area is popular among the office workers for lunch and it attracts high human traffic from both locals and tourists in the evening. Several of the famous cafes and Japanese restaurants are situated along Duxton Road. There is ample carpark lots at Duxton Hill.
According to Jennifer Tan, Associate District Director of Huttons Asia Pte Ltd, conservation shophouses located in prime locations are well sought after by high-net-worth individuals for their rarity and ability to hold their value over time. Furthermore, this conservation shophouse has URA approval for Nightclub usage on both level 1 and level 2 which gives the owner the ability to ask for higher rents and potentially achieve better returns.
“This conservation shophouse which is zoned Commercial is not affected by the recent control measures on foreigners buying land zoned for commercial and residential use. Foreigners and companies will be eligible to purchase and there is no Additional Buyer’s Stamp Duty payable”, concludes Lee Sze Teck, Senior Director of Data Analytics at Huttons Asia Pte Ltd.
The Expression of Interest (EOI) closes on Wednesday, 4th October 2023 at 3pm.
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