The sizzling-hot property fever in Singapore has triggered the sale of two prime freehold commercial buildings.
One is a 3,402-sq-ft four-storey building at 23 and 25 Kampong Bahru Road, which was put up for sale at around $16 million or $1,421 psf.
The boutique building, which has a total strata area of 11,259 sq ft, has been zoned for commercial use. But the vendor is seeking approval to convert the property for hotel use.
Another is a four-storey building at 213 Upper Thomson Road. The building is set amidst an established private residential enclave near the Singapore Island Country Club.
The asking price for the property is $5.5 million, or $823 psf of gross floor area. The building has a total area of about 2,446 sq ft and a gross floor area of 6,679 sq ft.
The proposed developments for the property include corporate offices, food and beverage businesses and showroom space.
The property consultancy firm CB Richard Ellis is the marketing agent for the public tender, which ends on May 20.