Prime Freehold Shophouse and Retail Units at Rowell Road and City Gate for Sale at $10 Million

For $10 million a portfolio including two strata retail properties at City Gate on Beach Road and a freehold conservation shophouse at 61 Rowell Road has been placed for sale. An expression of interest (EOI) has attracted these properties, which are being sold just by PropNex Shophouse Elites directors Wilkie Tay and Sunny L. Buyers could choose to buy them individually or as a combo. The retail units cost $3 million; the suggested price for the shophouse is $7 million.

See: Nava Grove show flat

Situated in the Rochor (District 8) Desker Road conservation area, the two-story shophouse has a mezzanine. Subject to site survey, the 2,200 square foot shophouse has a recommended price of $3,181 psf. Recently rebuilt, it is empty right now and awaiting a temporary occupancy permit in the next weeks. On the second level it features an open terrace. Purchased by foreigners or business entities without additional buyer’s stamp duty, it is also within walking distance of the Jalan Besar MRT (Downtown Line) and Farrer Park MRT (North-East Line).

Comprising 311 residential and 188 commercial units, the City Gate mixed-use property includes the strata retail apartments. These retail venues have respective measurements of 441 sq ft and 474 sq ft. Comprising $3,278 psf overall, the retail units have a $3,000 reference price. Currently rented to tenants—including a hair shop and a restaurant—they will be sold with tenants in place. Buyers can decide to pick the units either individually or in groups. Sept. 30 at 3 p.m. closes the EOI exercise.

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