Yahoo Finance 999-year leasehold shophouse on Purvis Street for sale at $19.2 mil
A 2½-storey shophouse at 25 Purvis Street is on the market for $19.2 million. The 999-year leasehold property will be sold in an expression of interest (EOI) exercise managed by Colliers Singapore.
According to a press release by Colliers Singapore, the property has a site area of 1,665 sq ft and a built-up area of approximately 3,664 sq ft. The guide price translates to approximately $2,745 psf per plot ratio. According to Colliers, the total leasable area can potentially be increased to 6,993 sq ft by building a rear-extension, subject to relevant approvals.
The property will be sold with vacant possession.
The shophouse is located in the Civic and Cultural District. It used to house the iconic Yet Con Hainanese restaurant for close to 80 years, and the pre-war shophouse retains much of its classic architectural charm, says John Bin, director of capital markets and investment services at Colliers Singapore.
Read also: Commercial shophouse on Tras Street priced from $15.2 mil
Bin adds: “The sale of 25 Purvis Street presents a unique opportunity. Its historical significance, combined with its strategic location, makes it a compelling proposition for a variety of business ventures that unlock further rental value.”
He adds that the area has a high footfall from tourists and locals, with ample parking and public transport links.
The EOI exercise closes on Feb 22.
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