The Merchant Road commercial building, located within Raffles Education Square, is now available for sale with a guide price of $135 million, which translates to $1,898 per square foot based on its gross floor area of 71,111 square feet. This significant price adjustment reflects a strategic move to attract potential buyers after the property had previously been listed at $200 million in August 2021 without success. The current listing price presents an opportunity for investors to acquire a prime commercial asset in a rapidly developing area.
The property encompasses a four-storey building complemented by two rows of conservation shophouses, situated on a 27,669 square foot commercial site. With approximately 67 years remaining on its lease, the Merchant Road building offers a long-term investment potential. This combination of modern commercial space alongside historical conservation shophouses provides a unique selling proposition, appealing to buyers interested in both contemporary and heritage properties. Such features not only enhance the aesthetic value of the building but also align with the growing trend of integrating traditional and modern elements in urban development.
Potential buyers are invited to submit offers through an expression of interest (EOI) exercise, which is scheduled to close on July 9. This structured process allows interested parties to present their proposals for the property, facilitating a competitive bidding environment. The decision to open the floor for EOIs indicates a proactive approach by the sellers to gauge market interest and secure a sale that aligns with their expectations.
The area surrounding the Merchant Road commercial building is poised for transformation, with upcoming developments such as Union Square and CanningHill Piers expected to increase foot traffic and inject vibrancy into the locale. These developments are anticipated to enhance the attractiveness of the property, making it a more lucrative investment in the long term. As the neighborhood evolves, the potential for higher rental yields and property appreciation could significantly benefit future owners.
While the initial listing price may have deterred buyers, the adjusted guide price of $135 million positions the Merchant Road commercial building as a compelling option for investors. The combination of its strategic location, distinctive architectural features, and the promise of future growth makes it an attractive proposition in the current real estate market.
As the deadline for the EOI exercise approaches, market observers will be keenly watching the level of interest generated by this asset. The outcome of this sale could set a precedent for similar properties in the area, influencing pricing and investment strategies in a dynamic urban landscape. The Merchant Road commercial building stands as a testament to the evolving nature of real estate investment, where strategic pricing and location play crucial roles in attracting buyers in a competitive environment.
NEW CONDO LAUNCH: RIVER GREEN
River Green is an exciting new condominium development offering a variety of unit types to suit diverse buyer preferences.
With a focus on modern living, the project includes a range of amenities such as a swimming pool, fitness center, and beautifully landscaped gardens.
Located conveniently near transportation hubs, it provides easy access to schools, shopping, and dining, making it ideal for families and young professionals.
For detailed information, including the River Green floor plan and pricing, prospective buyers can access the River Green e-brochure.
View River Green ShowFlat & Get VVIP Discount. Register or contact 6100 8822 to book showflat appointment.
News Source: Edgeprop
Images are not actual photos. For illustration purpose only.
