Conservation shophouses in Geylang and Joo Chiat up for sale

SINGAPORE (EDGEPROP) - Two sets of conservation shophouses in Geylang and Joo Chiat are up for sale. They are a row of seven freehold adjoining conservation shophouses in Geylang, and two freehold adjoining shophouses at Joo Chiat Road. Both sets of shophouses are up for sale via expression of interest (EOI). The guide price for the seven shophouses is about $40 million to $42 million, while the guide price for the two tenanted shophouses is at $7 million to $7.5 million.
Located at the corner of Geylang Road and Lorong 14 Geylang, the row of seven shophouses is close to Aljunied MRT Station. They have a total land area of 10,520 sq ft and gross floor area (GFA) of about 18,000 sq ft. There will be no additional buyer’s stamp duty and seller’s stamp duty payable. Foreigners and companies are also eligible to purchase.
The guide price for the seven shophouses in Geylang is about $40 million to $42 million (Credit: Knight Frank Singapore)
The shophouses are currently fully tenanted and comprise a corner coffeeshop, mobile phone retailer, massage parlour and other retail trades. The properties are suitable for F&B outlets and retail uses on the ground floor, while the upper floors can be designated for office use.
Meanwhile, near the junction of Joo Chiat Road and Koon Seng Road, the two adjoining shophouses have a land area of 2,393 sq ft and a GFA of about 4,600 sq ft. The properties are near Parkway Parade, 112 Katong, Kinex, Paya Lebar Square and SingPost Centre.
For price trends, recent transactions, other project info, check out the Geylang Road and Joo Chiat Road project research page
The guide price for the two tenanted shophouses at Joo Chiat is at $7 million to $7.5 million. (Credit: Knight Frank Singapore)
Both sets of shophouses are zoned for commercial use with a plot ratio of 3 under the 2014 Master Plan. The EOI for the two sets of shophouses – both marketed by Knight Frank Singapore – will close at 3pm on Oct 3, 2019.
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