Prime properties under auction

A shop/showroom unit at Shenton House ground level has an indicative price of S$13.3 million, and an old semi-detached house along Marshall Road that is ripe for redevelopment will be making their auction debut at Colliers International’s auction on Nov 20.

  1. The Shenton House unit is being offered by its owner – an investment company that has leased the 6,630-square-feet unit to a tenant that uses it as a jewellery shop and showroom. The monthly rental is S$39,786 till August 2017 with an option to renew for two years. The gross rent works out to S$6 per square foot (psf) a month, and when the lease expires, the space may be subdivided into smaller units – to fetch higher psf rent. Based on the S$13.3 million indicative price and the current rental, the net yield would be close to 3 per cent.There is water supply in this unit, which means there is potential to use it as a food and beverage outlet and/or a clinic, said Ms Ng. Moreover, there is potential for an en bloc sale at Shenton House, she added.
  2. Shenton House is a 25-storey commercial development with retail units on levels 1-3, with a balance lease term of about 73 years. The building is a short distance from the existing Downtown MRT Station (on the Downtown Line) and next to the proposed Shenton Way Station on the Thomson-East Coast Line (under construction).
  3. 94 Marshall Road in the East Coast/Dunman roads area is a standalone semi-D as the adjoining unit has been torn down for redevelopment into a bungalow. 94 Marshall Road has a freehold land area of 4,938 sq ft and may be redeveloped into a three-storey bungalow. The indicative price for the property is S$5.2 million to S$5.3 million.
  4. Mortgagee sale of a three-bedroom apartment on the 67th floor of The Sail @ Marina Bay. It offers bay views from the living/dining areas and two of the bedrooms. At its debut auction on Oct 29 – also conducted by Colliers – the property was withdrawn at S$3.95 million, translating to S$2,431 psf for the 1,625-sq-ft unit.
  5. The bedrooms have timber strip flooring while the remaining areas have homoge-neous/ceramic tiles. The master bedroom is en suite. There is a common bathroom for the other two bedrooms. The unit, which also has a study area, is being sold with vacant possession. The mortgagee is a local bank.

 

 

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