Commercial unit on Joo Chiat Road for sale at $5.25 mil
The freehold strata-titled unit is located on the ground-floor of a three-storey corner shophouse on Joo Chiat Road (Picture: ETC)
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A freehold strata-titled commercial unit located at 107 Joo Chiat Road is up for sale through an expression of interest (EOI) exercise. The unit is located on the ground floor of a three-storey corner shophouse at the junction of Joo Chiat Road and Tembeling Road. It has a guide price of $5.25 million, or $4,064 psf on the strata area of approximately 1,292 sq ft.
The unit is currently leased and will be sold with its existing tenancy, says ETC, the property’s marketing agent. As a commercial property, the unit is available for purchase by both local and foreign buyers, and is not subject to Additional Buyer’s Stamp Duty.
The property is part of a long stretch of shophouses along Joo Chiat Road, running between Geylang Road and East Coast Road. It is situated in the popular Katong-Joo Chiat area, best known for its mixture of heritage properties, eateries, cafes and other retail offerings. The unit is within walking distance of Joo Chiat Complex and Geylang Serai Market and Food Centre.
Swee Shou Fern, head of investment advisory at ETC, says the property is “well-positioned to benefit from the area’s steady footfall and enduring appeal as one of Singapore’s most distinctive lifestyle and dining destinations”.
The EOI will close on Dec 4 at 3pm.
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