The Boat Quay conservation shophouse is for sale with an estimated price of S$18.8 million

Aug 23, 2022

A CONSERVATION shophouse located at 10 Lorong Telok was listed for sale on Tuesday with an indicative price of S$18.8 million (Aug 23).

The 3-story plus attic property is located within the Boat Quay conservation area and has a land size of approximately 1,410 square feet (sq ft) and a built-up area of approximately 4,000 sq ft, according to the exclusive marketing agent Huttons Asia.

A food and beverage operator currently occupies the ground floor, which has a floor-to-ceiling height of 4.5 meters. The second floor is an office space, while the third floor is occupied by a yoga studio.

The shophouse's 999-year leasehold and "commercial" zoning under the Urban Redevelopment Authority Master Plan means that buyers are exempt from additional buyer's stamp duty and foreigners are eligible to purchase.

The purchase of the shophouse will not be subject to the goods and services tax, according to Huttons Asia.

"Shophouses in the prime CBD (Central Business District) area are becoming increasingly popular with MNCs (multinational corporations), offices, aesthetic clinics, law firms, and accounting firms," said Aric Lim, group division director at Huttons Asia.

"Many businesses operate on the second or third floors of these shophouses because their operating hours and lease agreements are more flexible," he added.

Note that the deadline for submitting an expression of interest is September 14 at 3:00 pm.