Steven Tan, director of capital markets at Colliers International, said: “We believe this property presents investment upside with untapped potential.”
The buyer will also be able to actively participate in the design stage of the A&A works for the rear extension, to ensure that the refurbishment will suit its needs, Mr Tan added. Public transport options nearby include the Clarke Quay MRT station across the street as well as the Raffles Place MRT interchange station.
Due to its commercial-use zoning, the additional buyer’s stamp duty and seller’s stamp duty are not applicable. The sale is also open to both local and foreign investors.“We expect demand for shophouses to remain relatively consistent in the next three years, particularly from boutique investors due to the low capital quantum required,” Mr Tan said.
Source: News Formal (newsformal.com)
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