Shophouse on Upper Circular Road for sale at $24.2 mil

A shophouse at 13 Upper Circular Road is on the market, with a guide price of $24.2 million. The property has undergone extensive asset enhancement works, having been originally a three-storey structure, redeveloped and expanded to a six-storey rear extension. Positioned within the Upper Circular Conservation Area, the 7,333 sq ft of total floor area is zoned for commercial use with a 4.2 gross plot ratio. The guide price works out to approximately $3,300 psf, with the property coming with a fresh 99-year lease from September 2022.

Located across from the mixed-use development The Riverwalk, and a short five-minute and ten-minute walk to Clark Quay Central and Raffles Place MRT Interchange Station respectively, the property is being marketed as an attractive option for investors and owner-occupiers looking to own a timeless heritage asset in a sought-after district.

Given the asset enhancement works and new lease, CBRE Executive Director, Capital Markets, Singapore Clemence Lee believes the property will draw attention from astute investors. The property will undoubtedly benefit from the rejuvenation activities and new developments in the neighbourhood, including CQ @ Clarke Quay and the upcoming Canninghill Piers.

The expression of interest exercise for 13 Upper Circular Road closes on April 11 at 3pm. With a guide price of $24.2 million and its unique heritage Tengah Plantation EC charm, it presents an attractive investment opportunity for investment and owner-occupiers alike.