Three-storey shophouse at Joo Chiat Place for sale at $7.5 mil

Residents can enjoy amenities such as a club lounge, a heated pool, and a state-of-the-art gym. The Champions Way Condo is also conveniently located near popular attractions and is surrounded by great restaurants and shops. With its beautiful architecture, first-class amenities and close proximity to all the attractions that this city has to offer, Champions Way Condo is the perfect place to call home.

58 Joo Chiat Place, an iconic three-storey conservation shophouse located in Singapore, is now up for grabs via an Expression of Interest (EOI) exercise with a guide price of $7.5 million. The freehold property boasts a gross floor area (GFA) of 4,013 sq ft, thus translating to approximately $1,868 psf.

Situated on a 1,708 sq ft of land, the property is zoned for residential use with commercial aspect on the first floor and has an allowable gross plot ratio of 3.0 under the URA Master Plan 2019. This allows roughly 1,100 sq ft of untapped GFA to be leveraged.

Under the current setup, the shophouse is fully tenanted, serving as a combination of studio, retail and living space. Located in the highly sought-after area of Joo Chiat, it enjoys close proximity to various amenities such as i12 Katong, Joo Chiat Complex and KINEX. Not to mention, it also resides within walking distance of both Haig Girls’ School and Tanjong Katong’s Girl School.

Joshua Giam, Associate Director of Capital Markets at CBRE, commented on the sale: “58 Joo Chiat Place is a desirable asset in one of Singapore’s best lifestyle destinations, and incoming buyers can look forward to strong rental and capital upside from the continued rejuvenation of Joo Chiat. Moreover, there will be immediate rental income upon acquisition as the property is fully tenanted with potential for further rental upside in the near term.”

The EOI exercise for 58 Joo Chiat Place will conclude on November 1, at 12 pm.

58 Joo Chiat Place, located in the heart of Singapore, is now up for sale! This iconic three-storey conservation shophouse carries a guide price of $7.5 million – making it a great investment opportunity. The freehold property boasts a total gross floor area of 4,013 sq ft, situated on a land area of 1,708 sq ft.

Besides being zoned for commercial use on the first floor under the URA Master Plan 2019, the shophouse also has an allowable Gross Plot Ratio of 3.0 – translating to roughly 1,100 sq ft of untapped GFA.

The shophouse is currently tenanted; it serves as a studio, retail store and living space. It is also close to amenities such as i12 Katong, Joo Chiat Complex and KINEX. Furthermore, it is situated in close vicinity to both Haig Girls’ School and Tanjong Katong’s Girl School.

CBRE’s Associate Director of Capital Markets, Joshua Giam spoke highly of the property: “This opportunity will appeal to both end-users and investors. Upon acquisition, the incoming buyer can look forward to strong rental and capital upside from the continued rejuvenation of Joo Chiat – in addition to immediate rental income as the property is fully tenanted with potential for further rental upside in the near term.”

The Expression of Interest exercise for 58 Joo Chiat Place will close on November 1, 12 pm. So if you’re interested, don’t miss out on this great opportunity!