Penrose price

Two conservation shophouses in Neil Road and others with adjoining property in Jasmine Road are individually up available.

The adjoining two-storey units having a loft in 65/67 Neil Road possess an indicative cost of $15.57 million, roughly $2,800 per sq ft (psf), dependent on the overall gross floor area (GFA) of 5,563.7 sq ft.

For official Penrose price, project details, floor plans, showflat appointment to be obtained by registering your interest now.

Mr Steven Tan, senior manager of capital markets in advertising representative Colliers International, said the company anticipates healthy interest from local and overseas investors.

He added the shophouses have distance in the back for deliveries or a alfresco food and drink area, subject to acceptance.

“We think there’s an upside for leasing revision, especially in a strong leasing market with restricted distribution,” Mr Tan said.

The bottom floor of the shophouses along with the next floor of 67 Neil Road are tenanted into an entertainment outlet that’s been leasing the area for several decades.

The next floor of 65 Neil Road is empty. It might be used for a variety of functions, such as a restaurant, clinic, fitness center, karaoke, student hostel or home.

The website is zoned commercial so there’s not any extra purchaser’s stamp duty and vendor’s stamp duty.

Potential customers may check out the 3 freehold shophouses at 7, 9 and 11 Jasmine Road, that have a entire manual cost of $22.88 million.

They include a mixture of two-and three-storey attributes along with an adjacent empty website attached to 11 Jasmine Road.

The manual cost works out to approximately $1,185 psf, inclusive of the estimated growth fee based on the projected GFA of 21,363 sq feet upon redevelopment, Colliers said.

The shophouses, which might be had individually or together, and the property behind possess a joint area of 7,121 sq ft.

The website is zoned”home with initial storey commercial” and contains a gross plot ratio of 3.0.

It could be redeveloped to a construction of up to four storeys, with commercial space on the first floor and also approximately 16 residential components, according to an average level size of 861 sq ft.

The Website is surrounded with a landed property and is close to the coming Upper Thomson MRT station on the Thomson-East Coast Line and Marymount channel on the Circle Line.

The expression of interest exercise to its Jasmine Road units along with the adjacent property closes at 3pm on March 19.