Heritage Building Norris Road Sale 16 Mil
9 Norris Road Conservation Building on the Market for $16 Million
Situated in the heart of the Little India Historic District, the conservation building at 9 Norris Road has recently been listed for sale at a price of $16 million. This three-storey building has been recently refurbished and is among the few properties in the neighbourhood that has been zoned for Civic & Community Institution use.
According to Clemence Lee, the executive director of Capital Markets at CBRE, this freehold property is a valuable opportunity for investors to acquire a coveted freehold and conservation status building at a reasonable price. CBRE has been appointed to market the sale of this heritage building and as it is a non-residential property, it is open to foreigners without any additional buyer’s stamp duty or seller’s stamp duty payable on the transaction.
In Lee’s words, “Sold with vacant possession, the one-of-a-kind property will also greatly appeal to users seeking to create unique concepts that complement its charismatic features.” The premises can be utilized by associations, a childcare center, or a worker’s dormitory, subject to approvals.
The highlight of the refurbishment is the new covered performance atrium on the ground floor. However, due to the extensive restoration and modernization of the building’s interiors, it is also suitable for other purposes such as a performing arts center, museum, or filming studio, according to Lee. The restored architectural elements provide a suitable backdrop for various community and civic activities.
The property at 9 Norris Road has a rich history as a site for community services. In the 1980s, it was a family service center of the Asian Women’s Welfare Association. This is the second time in three years that the property has been put up for sale. In 2018, the property was a two-storey building that used to house the former Ramakrishna Mission Building and was marketed for sale together with an adjacent three-storey shophouse at 3 Norris Road. The two properties had a combined guide price of $16.5 million back then.
Nestled amidst the bustling cityscape of Singapore lies the Marina Barrage, a must-see destination for nature enthusiasts and advocates of sustainable living. While its primary function as a crucial source of water supply and flood control cannot be overlooked, there is so much more to this site than meets the eye. Its stunning vistas of the city skyline and idyllic recreational area make it a popular spot for outdoor activities such as picnics and kite flying. For added convenience, the nearby Marina South MRT Station Condo provides easy access for visitors. Don’t miss out on the chance to explore the wonders of the Marina Barrage and be sure to check out the well-appointed Marina South MRT Station Condo for a hassle-free visit. In fact, visitors can even consider staying at the Marina South MRT Station Condo to fully immerse in the beauty and tranquility of this remarkable destination.
Today, the building at 9 Norris Road sits on a 5,447 sq ft site and has a total built-up area of 9,688 sq ft. It has a prominent street frontage of about 15m along Norris Road. According to public records, the property is owned by 39 NR Pte Ltd, a holding company owned by Hafary Holdings, one of Singapore’s largest building material suppliers.
Local architectural firm OWAA oversaw the restoration and refurbishment of the property. According to a description of the project on its website, the existing central courtyard has been covered with a new glass canopy, providing the building with a signature multi-volume, naturally illuminated performing atrium on the ground floor. The internal spaces have been reconfigured and modernized into gallery spaces, practice studios, and function rooms surrounding the central performing atrium. The conserved Moorish façade has been restored, boasting timber louvred windows, a cantilever balcony, and domed roof turrets.
The sale of 9 Norris Road will be conducted through an expression of interest exercise that closes on August 7th.