SINGAPORE (EDGEPROP) - A shophouse is located at 111 Frankel Avenue is on the market for $5.35 million, while a row of three conservation shophouses at 15, 17, and 19 Tessensohn Road are available for sale at a guide price of $20 million. Savills Singapore is the marketing agent for these four shophouses.
The two-storey, non-conservation shophouse at 111 Frankel Avenue sits on a 2,298 sq ft site and it has an estimated gross floor area of 2,943 sq ft. The guide price translates to about $1,800 psf on the floor area.
The shophouse is within the exclusive landed residential enclave in Frankel Estate in District 15. The land is zoned ‘residential with commercial at 1st storey’ and the shophouse comes with a rare F&B approval on the ground floor.
According to Yap Hui Yee, director of investment sales & capital markets at Savills Singapore, the second floor of the property could be utilised as a fitness centre, a tuition centre, or a medical centre, subject to approvals.
Separately, the row of three adjacent shophouses at 15, 17, and 19 Tessensohn Road occupy a combined land area of 4,483 sq ft and the guide price translates to $1,487 psf per plot ratio.
The shophouses are within the Jalan Besar Secondary Settlement which allows for a six-storey rear extension. The land the three shophouses sit on is zoned ‘residential with commercial at 1st storey’ with a plot ratio of 3.0.
The properties feature a 15m street frontage along Tessensohn Road. The unit at no. 15 is a corner two-storey shophouse. Meanwhile, no. 17 and 19 are currently undergoing additions & alteration (A&A) works for a new four-storey rear extension with communal roof terrace. These two shophouses already feature full concrete flooring, a staircase core, and a passenger lift.
“The shophouses present buyers the opportunity to maximise the floor area to 13,446 sq ft, and buyers have the flexibility for multiple potential usages,” says Yap. Alternative usages include a fitness centre, a childcare centre, association/civic & community use, and co-living, subject to approvals.
Check out the latest listings near Frankel Avenue, Frankel Estate