A row of three-storey shophouses with a rich architectural heritage is available for sale through Savills Singapore.

Occupying 8, 9, and 10 Craig Road, each of the shophouses sits on a combined land area of approximately 5,948 sq ft, with an estimated total built-up area of approximately 11,022 sq ft.

The row commands prominent 55-metre wide dual road frontages along Craig Road and Duxton Road with excellent visibility.

There are also private courtyards located at the front of the ground floor unit.

At a glance: 

• A row of three-storey shophouses at 8, 9 and 10 Craig Road Singapore is available for sale through Savills.
• Each of the shophouses sits on a combined land of approximately 5,948 sq ft, with an estimated total built-up area of approximately 11,022 sq ft.
• They are being sold through an Expression of Interest campaign closing at 3pm on Thursday, October 15.

Having undergone a refurbishment in 2018, the properties feature full concrete flooring and reinforced concrete staircase, while also benefitting from natural light comes that in through the air-well in the middle for all levels.

Each floor has a column-free, regular, highly efficient layout with generous ceiling height and en-suite washroom.

Located within the Duxton Hill/Keong Saik F&B enclave, Craig Road has reinvented itself over the years to incorporate distinctive, well-preserved shophouses housing quaint shops, eating places and lifestyle establishments.

The area has become one of Singapore’s trendiest lifestyle and F&B destinations amongst local and expats from the prominent commercial and residential landmarks located within the Tanjong Pagar financial district such as Guoco Tower and The Pinnacle at Duxton.

Some popular establishments in the vicinity include Pince and Pints, Man Man Japanese Unagi, KeSa House, The Working Capitol, the highly anticipated American burger joint Shake Shack, which recently opened its second  outlet in the area and the upcoming mixed-use development on the former Chinatown Plaza site.

The property features strong tenant covenants with the ground floor units tenanted to popular F&B and café operators, while the upper floors are leased to a diversified MNCs tenants’ profile.

As these three shophouses sit on land zoned for ‘Commercial’ use, foreigners and companies are eligible to purchase the properties.

There is no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) imposed on the purchase of the properties.

Yap Hui Yee, Director, Investment Sales & Capital Markets at Savills Singapore, said the attributes of the properties coupled with their close proximity to Tanjong Pagar MRT Station and the upcoming Maxwell MRT Station presented an "exceptional opportunity" in a fast-growing precinct that is still undergoing urban transformation.

“Hardly ever on the market, shophouses with courtyards are far and few between," she said.

“For contiguous and row of adjoining shophouses, it gives the purchaser the flexibility to explore the change of uses potential and such assets are sought after as purchasers can be creative in the restoring of the space by leveraging on the larger floor plates."

"Alternatively, this is also an excellent opportunity for owner-occupiers to acquire a charming flagship property with potential naming and signage rights in the Central Business District for their own operations."

The guide price for 8, 9 and 10 Craig Road is $36 million, which translates to approximately $3,260 per square foot on the floor area, excluding the private courtyards.

The sale will be conducted through an Expression of Interest exercise which closes on Thursday, 15 October 2020, at 3pm.

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