{"id":31788,"date":"2016-10-27T07:00:19","date_gmt":"2016-10-27T00:00:19","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/upper-bukit-timah-shophouses-on-sale-for-20-million\/"},"modified":"2016-10-27T07:27:31","modified_gmt":"2016-10-27T00:27:31","slug":"upper-bukit-timah-shophouses-on-sale-for-20-million","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/upper-bukit-timah-shophouses-on-sale-for-20-million\/","title":{"rendered":"Upper Bukit Timah shophouses on sale for $20 million"},"content":{"rendered":"


\nThe guide price works out to $718 psf per plot ratio on the floor area. (Photo: CBRE)
\nA cluster of five adjoining shophouses along 824-836 Upper Bukit Timah Road have been put up for sale by public tender, said marketing agent CBRE.
\nThe guide price for the row of shophouses, with commercial space on the ground floor and residential units on the upper floor, is $20 million. This works out to $718 psf per plot ratio on the existing gross floor area (GFA) of approximately 17,000 sq ft.
\nAccording to CBRE, the 10,259 sq ft freehold site has a prominent 32-metre frontage. Zoned residential with a gross plot ratio of 2.5 in the 2014 Master Plan, it could be redeveloped into a six-storey residential development with a total GFA of about 27,848 sq ft, a mixed commercial-residential project, or a six-storey serviced apartment block, subject to approval from the authorities.
\nGalven Tan, Director, Investment Properties at CBRE, said: \u201cThere has been a significant pick up in land sales activity in recent months. Developers and investors are extremely eager to replenish their land bank. The owner received multiple enquiries to buy these shophouses and thus decided to put the properties for public tender. The asking price has been reduced by 25 percent from the last marketing exercise in 2013.\u201d
\nHe added: \u201cWe expect the tender to garner interest from contractors and developers who are actively seeking to purchase a strategically located freehold development plot.\u201d
\nNearby amenities include the Bukit Panjang MRT-LRT Interchange station and Cashew MRT station on the Downtown Line, as well as several schools. The site is also expected to benefit from the transformation of the Rail Corridor.
\nCBRE said the tender exercise will close on 18 November 2016.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Upper Bukit Timah shophouses on sale for million<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The guide price works out to $718 psf per plot ratio on the floor area....<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-31788","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-8gI","jetpack-related-posts":[{"id":119946,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/adjoining-sites-at-bukit-timah-dukes-road-up-for-collective-sale\/","url_meta":{"origin":31788,"position":0},"title":"Adjoining sites at Bukit Timah, Duke's Road up for collective sale","date":"January 27, 2021","format":false,"excerpt":"\r Adjoining sites at Bukit Timah, Duke's Road up for collective saleWith an area of 16,479 sq ft, the freehold site is zoned for residential and commercial use under the\u00a02019 Master Plan. 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This works out to around $1,172 per sq ft per plot ratio, after taking into\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":122838,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/adjoining-sites-at-bukit-timah-dukes-road-goes-en-bloc-again-with-lower-price\/","url_meta":{"origin":31788,"position":2},"title":"Adjoining sites at Bukit Timah, Duke's Road goes en bloc again with lower price","date":"October 27, 2021","format":false,"excerpt":"\r Adjoining sites at Bukit Timah, Duke's Road goes en bloc again with lower priceLocated\u00a0at 551 to 553 Bukit Timah Road and 6 to 8 Duke\u2019s Road,\u00a0the three adjoining mixed-use redevelopment sites has an asking price of $53.8 million. 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