SINGAPORE (EDGEPROP) - A freehold two-storey conservation shophouse at 616 Serangoon Road is up for sale at a guide price of $4.5 million, according to CBRE, which is marketing the property.

The shophouse occupies a land of about 1,498 sq ft, with a gross floor area of approximately 2,419 sq ft. It is zoned for commercial use with a gross plot ratio of 3.0, and is located within the Jalan Besar Secondary Settlement Conservation Area.

“The shophouse is currently being used as an office. The successful buyer can explore converting the space into a gym/fitness centre or a restaurant to boost rental income, subject to approval from the relevant authorities,” says Clemence Lee, senior director, capital markets, Singapore, at CBRE.

Notable commercial developments in the area include Centrium Square, Uptown @ Farrer, Tekka Place, City Square Mall and Aperia Mall.

Foreigners are eligible to purchase the property, and no additional buyer’s stamp duty or seller’s stamp duty will be imposed on the purchase.

The expression of interest exercise will close on May 20, at 3pm.

Check out the latest listings near 616 Serangoon Road, Jalan Besar