Commercial real estate services and investment company CBRE has launched the sale of four freehold shophouses in MacPherson Road, with would-be buyers invited to express interest.
The four properties comprise an intermediate two-storey shophouse, two adjoining two-storey shophouses and a corner two-storey shophouse.
The properties are zoned "residential with commercial at first-storey" with a gross plot ratio of 3.0 and a building height of up to four storeys.
With a total site area of about 6,089 sq ft or individual land size of about 1,500 to 1,529 sq ft, they can be redeveloped to a maximum gross floor area of about 18,267 sq ft.
CBRE is the sole marketing agent for this expression-of-interest exercise, in which the properties are offered in a portfolio bundle or an individual basis. The exercise will close on Aug 8 at 3pm.
CBRE director of capital markets Sammi Lim said the properties offer high visibility and come with existing food and beverage (F&B) approvals, both considered a rarity in today's market.
"We expect keen interest from developers, contractors, family offices and private equity funds that are actively seeking well-located freehold shophouses to add to their land bank.
"These shophouses will also appeal to investors seeking income-producing CBRE properties for immediate rental income to capitalise on the strong rental upside."
The shophouses are fully tenanted.
Three of the ground-floor units are leased to F&B operators and the fourth unit is tenanted to a minimart.
They are about a seven-minute walk from Tai Seng MRT station and a five-minute drive from Bidadari estate, a 93ha housing estate that is being built.