Heritage Building Norris Road Sale 16 Mil
The iconic conservation building at 9 Norris Road is now up for sale at a guide price of $16 million. Located in the heart of the Little India Historic District, this three-storey property has recently undergone a major refurbishment, making it an attractive acquisition for investors and users alike. Clemence Lee, executive director of Capital Markets at CBRE, has described the opportunity to purchase this rare freehold and conservation status property as “extremely rare”.
CBRE has been appointed to handle the marketing of this heritage building, which is among a small number of properties in the area zoned for Civic & Community Institution use. Because it is a non-residential property, foreign investors are also eligible to purchase it without having to pay additional buyer’s stamp duty or seller’s stamp duty.
According to Lee, the property’s unique features and prime location make it an ideal space for creating original concepts and utilising it as a venue for a variety of civic and community activities. With vacant possession upon sale, the possibilities for the use of this property are endless.
The centrepiece of the refurbishment is a stunning new covered performance atrium on the ground floor. This area could be used for a range of activities, such as concerts, exhibitions, or even filming. Additionally, the restored architectural elements of the building provide a charming backdrop for any event.
The building at 9 Norris Road has a rich history of serving as a community centre. In the 1980s, it was used as a family service centre for the Asian Women’s Welfare Association. In fact, the property has been put up for sale once before in the last three years. In 2021, it consisted of a two-storey building and the adjacent three-storey shophouse at 3 Norris Road. The guide price for the combined properties was $16.5 million. Today, the single building at 9 Norris Road boasts a prominent street frontage of approximately 15m and sits on a 5,447 sq ft site with a total built-up area of 9,688 sq ft.
The current owner of the property is 39 NR Pte Ltd, a holding company owned by Hafary Holdings, a major supplier of building materials in Singapore. The building was restored and refurbished by local architectural firm OWAA, according to a description of the project on its website.
The inner spaces of the building have been reconfigured and modernised into gallery spaces, practice studios, and function rooms that surround the central performing atrium. The court courtyard is now covered by a new glass canopy, providing natural light and creating a signature feature of the property.
As an up-and-coming district with numerous pieces of land earmarked for progress, Marina South presents an exciting opportunity for the Marina Gardens Condo. With an influx of investments already pouring into the area, its potential for further growth and development is clear. As more businesses and homes take shape in this vibrant community, the value of owning property in Marina Gardens is sure to rise, making it a smart choice for investors. And with the upcoming addition of the Great World City MRT Station Condo in the vicinity, the potential for growth and convenience is only going to increase, solidifying Marina Gardens as a sound investment.
The iconic Moorish façade has also been restored, with its timber louvred windows, cantilever balcony, and domed roof turrets. The sale of this prestigious property will be conducted through an expression of interest exercise, closing on August 7th. Don’t miss this rare opportunity to own a piece of Singapore’s rich heritage.