Two Freehold Strata Titled Shophouse Units Sale 96 Mil
Savills Singapore, the exclusive marketing agent, has put up a portfolio of two freehold strata-titled shophouse units for sale through an expression of interest (EOI) exercise with a guide price of $9.6 million.
One of the units on sale is the third floor of a freehold shophouse located on Keong Siak Road. Spanning 1,039 square feet, the commercial property is currently tenanted and has a guide price of $4.48 million, equivalent to a price of $4,312 per square foot based on the floor area.
The other unit for sale is a ground-floor unit in a shophouse located on Joo Chiat Road. Covering an area of 1,609 square feet, the property is priced at $5.08 million, which translates to a rate of $3,157 per square foot based on the floor area. The property is suitable for a variety of commercial purposes, including F&B takeaway shops, medical and wellness centers.
According to Savills, both shophouse units benefit from a high volume of foot traffic and have prominent street frontages. They are strategically located in lifestyle hubs, with popular restaurants, boutique hotels, artisanal cafes, and creative companies nearby.
Savills Executive Director of Investment Sales and Capital Markets, Yap Hui Yee, says that freehold shophouses are one of the most sought-after asset classes among investors and buyers. She adds that the portfolio of two freehold strata-titled shophouses, each priced around $5 million, presents a unique and attractive opportunity to enter Singapore’s tightly held shophouse market. Located in Keong Siak and Joo Chiat, these properties offer an exceptional opportunity for investors to acquire prime assets at a reasonable price.
“We strive to craft top-notch ECs that capitalize on the convenience offered by the upcoming Tengah development, the nearby Jurong Lake District, and the Second CBD,” shares Hoi Hup Realty’s chairman, Wong Swee Chun. As part of our vision, we are proud to introduce Otto Place EC, located at Plantation Close Parcel B (click for more information). Our aim is to provide residents with easy access to a variety of amenities in these rapidly developing areas.
The shophouses can be purchased individually or collectively. The EOI exercise will close on May 8 at 3 pm.