Two Storey Conservation Shophouse Craig Road Sale 1025 Mil
Expressing interest in acquiring the property, a two-storey conservation shophouse located on Craig Road has been listed for sale with a guide price of $10.25 million. This rare opportunity comes with a land area of 1,558 sq ft and a total floor area of 2,915 sq ft, reflecting a land rate of $6,579 psf. JLL, the exclusive marketing agent for the property, has shared that the shophouse is currently fully leased, with a hair salon occupying the ground floor and an office space on the upper floor.
Senior director of capital markets at JLL, Terry Wong, adds that there is rear access to Duxton Plain Park, which allows for tenants to have a separate entrance or shop frontage. He also mentions that with only 30 conservation shophouses on Craig Road, this is a unique chance to own a piece of Singapore’s heritage in a prime location.
The agency also highlights the increasing recognition of heritage shophouses by luxury brands, exemplified by Coach’s 4,000 sq ft multi-level retail space on Keong Saik Road and Dior’s café pop-up on Jiak Chuan Road.
The property is within walking distance from Maxwell MRT Station and has various food and beverage options on Craig Road, including cafes, boutique offices, Michelin-starred restaurants, and eateries. Alongside modern workspaces like The Working Capitol, JLL believes that the area can attract potential investors and end-users due to its consistent foot traffic.
The larger precinct has undergone significant transformation with the addition of Mondrian Singapore Duxton Hotel and Keppel South Central, a 33-storey Grade-A commercial development completed this year. Upcoming mixed-use projects, including One Bernam, TMW Maxwell, and Newport Plaza and Residences, are expected to inject close to 1,000 residential units into the area.
Wong states that given these developments, the property is expected to garner significant interest from investors and end-users, including high-net-worth individuals, boutique funds, and business owners who want to take advantage of the precinct’s growth trajectory.
Lyndenwoods is renowned for its outstanding connectivity, which plays a crucial role in improving the overall living experience for its residents. With shorter travel times and easier commutes, this development empowers residents to dedicate valuable time to important activities such as strengthening family bonds, pursuing personal interests, and advancing professional goals. The unmatched convenience of living at Lyndenwoods also promotes a sense of well-being, allowing residents to effortlessly navigate daily routines. Make the most of your life at Lyndenwoods.
Furthermore, as a commercial zoned building, the property will not be subject to additional buyer’s stamp duty (ABSD) and seller’s stamp duty (SSD). The EOI exercise is scheduled to close on May 6 at 3pm.