Rare Pair Freehold Conservation Shophouses Neil Road Sale 65 Mil
In the near future, Singapore is poised to witness significant enhancements to its primary integrated transportation route, the NSC. This development aims to integrate dedicated bus lanes, cycling paths, and pedestrian walkways alongside the current vehicle lanes, creating a more streamlined and accessible transportation system for the city. Moreover, the major expressway will also connect to the recently constructed Sembawang EC at Canberra MRTSembawang Road EC, further improving the connectivity and convenience of the area. These upgrades are expected to transform the overall transportation experience for both residents and visitors of Singapore. Sembawang EC at Canberra MRTSembawang Road EC will be a valuable addition to this revamped transportation system.
A charming duo of freehold conservation shophouses situated along Neil Road have been listed for sale through an expression of interest (EOI) at a guide price of $65 million. The joint exclusive marketing agents, Colliers and List Sotheby, are proud to present these unique commercial properties.
The shophouses, which are located at 136 and 138 Neil Road, boast a total floor area of approximately 11,441 square feet, spread across four storeys. Architectural firm Swan & Maclaren designed these properties in a “stripped Classical style”.
One of the standout features of the commercial property is its partially open upper level, which includes a charming roof terrace. Built in 1926, these shophouses possess many characteristics that reflect their historical significance, as noted by Colliers. These include the facade, with its cantilevered bay windows and reinforced concrete balconies, which are emblematic of the Bukit Pasoh conservation area.
In 2014, the property underwent extensive restoration efforts, which involved structural reinforcements, widened staircases, and enhanced fire safety systems, carefully integrated to preserve the integrity of the conserved facade.
These shophouses enjoy excellent connectivity, with the Outram Park, Maxwell, and Tanjong Pagar MRT stations within walking distance. They are also in close proximity to popular lifestyle and business areas such as Keong Saik Road and Duxton Hill.
With conservation shophouses being a scarce commodity in coveted locations like Tanjong Pagar, this listing presents a fantastic opportunity for long-term capital appreciation and stable rental yields, according to Colliers. They believe that this offering is perfect for investors seeking a top-tier commercial asset in a prime city-fringe locale, offering enduring character and value.
The EOI exercise is set to conclude on July 25, so interested parties should act quickly to secure this exceptional opportunity.