The shophouse at 469 Geylang Road is atwo-storey corner property (Picture: PropNex Shophouse Elites)
A portfolio comprising a freehold conservation shophouse at 469 Geylang Road and an HDB shop unit at 231 Bain Street is on the market for $14 million. The properties, which can be purchased together or separately, are available via an expression of interest (EOI) exercise. If sold separately, the shophouse and HDB shop unit have guide prices of $11 million and $3 million, respectively.
The shophouse at 469 Geylang Road is a two-storey corner property. It is a conserved building in a secondary settlement within the Geylang Conservation Area. Based on the shophouse’s estimated total floor area of 3,200 sq ft, the guide price works out to $3,438 psf.
Map of 469 Geylang Road (Source: EdgeProp LandLens)
According to PropNex Shophouse Elites, a division of PropNex Realty that is marketing the portfolio, adding a rear extension to the shophouse could potentially increase its gross floor area, subject to planning approvals from the relevant authorities. As a commercial property, the shophouse can be purchased by foreigners and corporate entities without incurring additional buyer’s stamp duty.
Meanwhile, the HDB shop unit at 231 Bain Street is on the first floor of Bras Basah Complex, a mixed-use development with commercial and residential units. Located adjacent to landmarks such as the National Library and Raffles Hotel, the development was built by HDB and completed in 1979.
The shop unit at Bras Basah Complex that is up for sale measures about 540 sq ft (Picture: PropNex Shophouse Elites)
The shop unit that is up for sale measures about 540 sq ft and is currently tenanted by a minimart. The guide price of $3 million for the property translates to $5,556 psf on the floor area.
The EOI for the properties will close on March 31 at 3pm.