SINGAPORE (EDGEPROP) - A freehold shophouse featuring two retail units at 26A & 26C Lorong Mambong, as well as their adjacent front and rear land parcels, have been put up for sale at $13.8 million in an Expression of Interest exercise. Cushman & Wakefield (C&W) is the sole appointed marketing agent.
Located off Holland Avenue, Lorong Mambong is in the prime Holland Village lifestyle precinct in District 10, and the shophouse is in the area’s main commercial enclave. The area is populated by trendy restaurants, cafes, and sports bars, which are frequented by local and expat communities.
Holland Village will see more pedestrian walkways, a new community park, and a new mixed-use development – One Holland Village – as part of rejuvenation plans by the URA to transform the area with new upscale residences, offices, and retail spaces.
The shophouse has a total strata area of 1,840 sq ft, while the adjacent land parcels at the front and rear have a combined land area of 1,020 sq ft. The first-floor unit has been approved for restaurant use, and its adjacent land parcel may be leased out as outdoor refreshment areas for patio dining.
The property is also a three-minute walk to Holland Village MRT Station on the Circle Line.
“This is an opportunity not to be missed as freehold commercial properties within District 10 are rare and few,” says Shaun Poh, executive director of capital markets at C&W. “Given the URA’s plans for the precinct and the anticipated completion of new developments in the immediate vicinity, the properties will likely appeal to investors seeking prime assets with tremendous potential for capital appreciation and rental upside.”
Foreigners are eligible to purchase the properties, and additional buyer’s stamp duty is not applicable. The tender closes on March 5.
For price trends, recent transactions, other project info, check out Lorong Mambong research page
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