[ 1 Corner + 6 intermediate Conservation Shophouse - Guide Price $52,000,000 ]
Rare Opportunity to own this rare beautiful multiple units of adjoining conservation shophouse situated in district 14, that sits on a full commercial land zone with a freehold tenure.
Frontage of Shophouse
This portfolio of 7 units of shophouses has a combined land area of 10,527 sqft (4,895 sqft + 2,869 sqft + 2,763 sqft), with an estimated existing floor area of more than 18,000 sqft.
Given its commercial zoning, the properties will not incur any additional buyer’s stamp duty or seller’s stamp duty and can be purchased by locals and foreigners.
Side Elevation, Corner coffeeshop with permanent license.
Currently leased to multi-types of business trades (Coffeeshop, Supermarket, Massage establishment, salon, retail, office) with an approximate monthly total rental collection of approximately $70,000.
Rear elevation of Shophouses
With a plot ratio of 3, these shophouses are possible for further increase of GFA to slightly more than 23,000 sqft, with approval for extension of its rear up to 3 floors.
[Quick walk-through of shophouses]
[Back of shophouses]
[Recent Transactions of District 14 Shophouses]
211-213 Geylang $4,685psf -7th march 2022
323 Geylang road $5,080 psf - 1st Sept 2021
218 Geylang road $4,379 psf - 27 may 2022
Last transaction has recorded an increase of transacted prices of shophouses in district 14 for units that have lodged a caveat, with per square foot pricing inching closer to shophouses in district 7(Rochor area), with a highest recorded price for a freehold district 14 shophouse at $5,353psf, while the average pricing for a freehold shophouse in district 7 transacting from $6,000 psf, with the highest transacted recorded at $13,821 psf.
[Recent Transactions of District 7 Shophouses]
[Geylang Future Transformation]
Encompassing Eunos, Geylang and Paya Lebar, District 14 plays a vital role in Singapore’s rich history as it portrays structures and buildings that reflect an unrevealed part of Singapore. Public and private housing coupled with several shophouses can be found here, but Geylang is known for its wide variety of cheap, delicious food. In addition, transportation throughout the district makes it highly accessible, with Kembangan, Eunos, Paya Lebar and Aljunied MRT stations enveloping the area.
The district has been attractive to buyers mainly because of the effort that has gone into preserving its cultural heritage which includes projects like the Geyland River Projects, Paya Lebar Central and the Civic Centre of Wisma Geylang Serai.
As much of the district’s cultural and historical elements have been conserved, other parts of the area have been identified to make way for modern redevelopment projects, particularly in Paya Lebar. Paya Lebar Central will boast about 5.4 million sq ft of industrial technological and commercial space as shown in the Draft Master Plan 2013 for the area.
[Asking Guide Price]
$52 million or $4952 psf based on land area.
TO ARRANGE FOR A VIEWING APPOINTMENT
Contact Listing Manager
+65 8752 5515