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.
- 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.
- 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).
- 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.
- 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 At its debut auction on Oct 29 – also conducted by Colliers – the property was withdrawn at S$3.95 million, translating to S$2,431 psf for the 1,625-sq-ft unit.
- 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.
Katong Homes 