>

>

Commercial shophouse at Serangoon Gardens on the market for $10.5 mil

By Nur Hikmah Md Ali

/ EdgeProp Singapore |

March 18, 2024 4:29 PM SGT

The two-storey commercial shophouse is currently tenanted to a medical clinic and baking studio (Photo: Savills Singapore)

Join our Telegram channel and follow our Facebook for the latest update.

SINGAPORE (EDGEPROP) - According to Savills Singapore, on March 18, a two-storey, non-conservation commercial shophouse on 79 and 79A Serangoon Garden Way was put up for sale via an expression of interest (EOI) exercise for $10.5 million. The 999-year leasehold property sits on 1,503 sq ft of land and 2,422 sq ft of floor area, which translates its guide price to $4,335 psf on floor area.

The property has street frontage and parking lots right at its doorstep, as well as an adjacent open-air carpark. Under the Master Plan 2019, the shophouse is zoned for commercial use with a plot ratio of 1.4. Foreigners and companies are eligible to purchase without paying additional buyer’s and seller’s stamp duty.

The property is fully leased to a medical clinic on the ground floor and a baking studio on the upper floor. Based on caveats lodged, the shophouse was sold in March last year for $8.65 million, or $5,756 psf. Before the transaction, it had changed hands only twice, in 2010 and 2014.

Read also: Freehold commercial corner shophouse in Kampong Glam for sale at $20.8 mil

Sophia Lim, director of investment sales and capital markets at Savills Singapore, expects the shophouse to appeal to investors due to its limited supply in Serangoon Gardens. “The shophouse ownership in Serangoon Gardens is tightly held, and only 69 of such shophouses are in the area.”

The EOI exercise closes on April 23 at 3pm.

Tags:

Follow Us

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Far East Shopping Centre’s $908 mil en bloc deal aborted

2

World’s largest Mercure Hotel opens on Club Street

3

Grandson of Genting Group founder leads Cover Projects, carves niche in Singapore’s heritage properties

4

The Residences at W Singapore Sentosa Cove relaunches at prices from $1,648 psf, 40% below the peak

5

Residential transactions with contracts dated March 26 to April 2 [DONE DEALS]

Our Site

Follow Us

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

View More

Close Ad

00:00