Located in the Upper Circular Conservation Area, 13 Upper Circular Road is on the market via an expression of interest exercise with a guide price of $24.2 million. This site, zoned for commercial use, has a total floor area of 7,333 sq ft and has undergone extensive asset enhancement works.

Currently, the property is a six-storey building in close proximity to numerous developments, including the newly proposed Canninghill Pier. This integrated development will include residences, a hotel, serviced residences, and a two-storey commercial podium. The property is also situated opposite The Riverwalk and a five-minute walk from Clark Quay Central; furthermore, Raffles Place MRT Interchange Station (East-West and North-South Lines) is only a 10-minute walk away.

Clemence Lee, executive director, capital markets, Singapore at CBRE, said: “Given the extensive asset enhancement initiative and refurbishment works done to improve the property, as well as the renewal of the lease to a fresh 99-year tenure, we believe that the asset will garner strong interest from astute investors and owner-occupiers who are looking JCube Residence to own a timeless heritage asset within one of Singapore’s most coveted districts.”

At an approximate rate of $3,300 psf, the sale of this picturesque property is expected to benefit from rejuvenation activities and new developments in the neighbourhood. Listings on Upper Circular Road shows that the property had changed hands for $6 million in February 2019.

The expression of interest exercise for 13 Upper Circular Road will close on April 11 at 3pm. Potential buyers are advised to take into consideration the many benefits of owning a shophouse in this part of Singapore – from its historical architecture to its prime location – before thinking of submitting a bid.