Four freehold Geylang shophouses on the market for $14 mil

/ EdgeProp
July 17, 2019 1:30 PM SGT
Knight Frank Singapore is marketing the sale of four shophouses at the junction of Geylang Road and Lorong 33 Geylang. The properties have a guide price of $14 million.
The adjoining two-storey conservation shophouses were affected by a fire in March this year. Before the fire, the shophouses used to house a tyre business, furniture retailer, and electrical shop. The properties have since been cleared out and will be sold with vacant possession.
The four shophouses are at the junction of Geylang Road and Lorong 33 Geylang (Picture: Knight Frank Singapore)
The properties sit on a freehold land-plot of 5,113 sq ft with a plot ratio of 3.0 under the 2014 Master Plan. “Prospective buyers can redevelop the land based on conservation guidelines set out by URA. As this is a secondary settlement area, there is potential for a rear extension, subject to approval,” says Mary Sai, executive director, investment and capital markets, of Knight Frank Singapore.
There is no additional buyer’s stamp duty and seller’s stamp duty payable, and foreigners and companies are eligible to purchase the properties. As the owners are not GST-registered, no GST will be payable.
The expression of interest for the shophouses closes on Aug 15.