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Located at 48 to 56 Peck Seah Street, the three pairs of two-storey conservation shophouses with attic sit on three separate land lots with a combined land area of 8,213 square feet (sq ft).
They have a total indicative value of S$57.82 million, which works out to about S$2,900 per square foot (psf) based on the total existing gross floor area of 19,938 sq ft.
Situated in the central business district (CBD), the property is set to benefit from the Singapore government’s plans to rejuvenate the city centre under the Draft Master Plan 2019, said Colliers. Initiatives such as the CBD Incentive Scheme to convert ageing office buildings to hotels and homes will inject vibrancy and attract a diverse community to the area, the real estate services firm added.
The most important Real Estate happenings in Singapore
- Bishan Park Condo up for collective sale, could fetch S$680m to S$688m
- JTC launches Tuas Bay Drive site for application
- Keppel to buy 30% of Guangzhou commercial project for HK$141m
- North Bridge Rd commercial building up for sale at S$80m
- Bishan Park condo owners expect up to $688m in collective sale
Latest news from the Asian Property market
- Investors are gearing up for Thai property IPO bonanza
- Hi-tech mapping has good intentions for land rights but can backfire
- Eton Properties appoints Colliers Philippines as leasing agent for Cyberpod Five
- Henderson Land bags Kowloon properties for US$273m
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