Freehold shophouse on Sixth Avenue on the market for $14.5 mil
By Timothy Tay
/ EdgeProp Singapore |
SINGAPORE (EDGEPROP) - Savills Singapore, as the sole marketing agent, has announced that a freehold non-conservation shophouse at 8 Sixth Avenue is up for sale at $14.5 million. The corner property has a 30-metre dual street frontage, and it sits on a 2,451 sq ft plot. The two-storey property also has an existing floor area of 3,183 sq ft.
“Sixth Avenue at Bukit Timah has long been regarded as one of the most affluent residential enclaves in Singapore, surrounded by Good Class Bungalows (GCBs), landed houses, and private condominiums,” says Savills. Nearby GCB Areas include Garlick Avenue, First/Third Avenue, and Fourth/Sixth Avenue.
The nearest MRT station is Sixth Avenue on the Downtown Line. Street parking for cars is also available in front of the shophouse, while more parking is available in the nearby Guthrie House. “The property already enjoys high patronage from residents in the vicinity. It is poised to further benefit directly from the increased footfall and traffic brought by the new condominium developments in the vicinity — Royal Green and Fourth Avenue Residences,” says Savills.
The two-storey corer shophouse is zoned “Residential with Commercial at 1st storey”. (Map: EdgeProp Singapore)
One half of the ground-floor unit of the shophouse has an F&B approval to operate a restaurant, while the other half currently operates as a takeaway shop for a bakery. The second floor is vacant and available for owner-occupiers or investors.
Yap Hui Yee, executive director, investment sales and capital markets at Savills Singapore says that this type of commercial property in the Sixth Avenue area is rarely put on the market, “especially one that enjoys a highly visible corner plot location with F&B approval on the ground floor. This is a great option for both owner-occupants and investors seeking wealth preservation and capital appreciation”.
The tender for the sale of this shophouse will close on March 21.
Check out the latest listings near Garlick Avenue, Sixth Avenue MRT station
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