All in all, these three Duxton Road shophouses are worth $55 million. The corner property with 4,160 square feet categorized “commercial” under the 2019 Master Plan accommodates the four-and-a-half-story conservation shophouses.
The conservation shophouses in Tanjong Pagar were given a 99-year lease in 1989. Therefore, there are still 65 years left on the lease. The shophouses, which will be offered through an expression of interest exercise with a deadline of July 20th, will be marketed by Cushman & Wakefield.
The shophouses were renovated extensively in 2013, with new mechanical and electrical fittings, an internal elevator, and updated standards installed. The outside was painted within the previous year. There has been consistent care for the lift.
More than $2.5 million in capital expenditures have been made thus far on renovations and upkeep. The building was last inspected in April of this year.
As a result of the merger, the aggregate GFA of the storefronts is 15,423. The total floor area of the ground floor is 3,707. The floor areas on levels 2-4 are all exactly 3,044 square feet. The loft is 1731 square feet in size.
A spin studio and a store have taken up residence on the ground floor. Long-term office tenants occupy the building’s upper levels 2 and 3. A fitness center has taken up the whole fourth floor and mezzanine.
According to Shaun Poh, executive director of capital markets at Cushman, Grand Dunman, & Wakefield, the three shophouses’ shared ownership simplifies the sale procedure. Must check out the latest Grand Dunman Floor plan and Grand Dunman Price.
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