Photo of 10 Lor Telok (Source: Huttons Asia)
A Conservation Shophouse at 10 Lor Telok is up for sale with a guide price of $18.8 million via an expression of interest. The property located within the Boat Quay Conservation area is exclusively marketed by Huttons Asia Pte Ltd.
The 999-year leasehold property has a land size of approximately 1,410 sq ft and a built-up area of approximately 4,000 sq ft. The 3 storey plus attic shophouse has a floor to ceiling height of 4.5m on the ground floor. The ground level is currently tenanted to a F&B operator, office on the 2nd level and to an established yoga gym on the 3rd level and attic. This shophouse is located within walking distance to Raffles Place MRT and in a popular area for lunch among the office crowd. In the evening, there is high human traffic from both locals and tourists.
According to Jeremy Lim, Senior Group District Director of Huttons Asia, “Conservation shophouses with a freehold or 999-year leasehold tenure are well sought after as High Net Worth Individuals see these properties as legacy assets and they hold their value well. The supply is very much limited for these shophouses, especially those that come with F&B approvals. Landlords are generally able to fetch a significantly higher rental for F&B units. This shophouse currently holds approval for Restaurant and Bar for its 1st storey.”
“Shophouses in the prime CBD area are increasingly popular among MNCs, offices, aesthetic clinics, law firms and accountancy firms. Many operate at level 2 or 3 of these shophouses as they are more flexible in terms of operating hours as well as lease agreements,” commented Aric Lim, Group Division Director of Huttons Asia.
Under the URA Master Plan, the shophouse is zoned under “Commercial” use. Buyers will not be subjected to Additional Buyer’s Stamp Duty and foreigners and companies will also be eligible to purchase. The shophouse is not subjected to GST.
The Expression of Interest (EOI) closes on Wednesday, 14th September 2022 at 3pm.
For further information, please contact:
Jeremy Lim, Senior Group District Director, Singapore Tel: +65 8858 1212 | firstname.lastname@example.org
Aric Lim, Group Division Director, Singapore Tel: +65 8383 2838 | email@example.com