Rare Adjoining Conservation Shophouses up for Auction
PropNex Auction Team, which is led by Auctioneer Clarence Goh, is appointed as the sole action house for the 6 units of rare freehold conservation shophouse ([email protected] – Hotel) at Desker Road which was first bought by the owner in 2010.
According to Clarence, in the first four months of 2018, there has been an increasing number of commercial units being put up for auction in Singapore. In 2018, total of 49 units were up for sale via auction (Jan to April 2018), a 172 per cent increase from the same period last year where 18 units were up for sale.
The subject development at “[email protected]—Hotel” is one of the unique listing available in 31st May Auction, consisting of a corner unit with 5 adjoining 2.5 storey conservation shophouses. Currently, there is a Food & Beverage and retail on the first level, with 25 hotel rooms on the second level. New owners purchasing these units would be able to operate it as a Hotel with licensing available. Under the Master Plan Zoning 2014, the property is under “Commercial” zoning and within the Little India Conservation Area.
Located in District 8, amongst the tourist attraction area, the six units have a total land area of approximately 619.1 sqm (6,663.99 sqft) and a total build area of approximately 1,140 sqm (12,270 sqft). It is conveniently a short walk away to Farrer Park and Jalan Besar MRT Station and near shopping malls like City Square Mall and the iconic Mustafa Centre. The unit is selling with ground floor tenancy while upstairs and attic are sold as vacant possession and on a “as is where is” basis—where buyer buys the property in its current condition, says Clarence Goh from PropNex Realty – Head of Corporate sales & Auction.
Along with this commercial shophouse, there will be more than 20 properties up for Auction at Amara Hotel on 31st May 2018 which also include other retail units that are;
Newest at West Coast (Corner dual frontage shop) which is selling at 40% lower than original price
French Road (2 storey HDB Shophouse) which is a rare HDB shophouse with living quarters within walking distance to Lavender MRT
Bukit Timah Shopping Centre (Shop), 999 years leasehold located next to Beauty World MRT
Auction—An attractive mode of sale
In addition to engaging professional salespersons to handle the marketing and sale of their property, selling via auction is one of the methods that sellers can choose with the added advantages of having control, exposure, attaining the best price and faster mode of sale through on-the-spot commitment.