A 999-year leasehold shophouse in Serangoon Garden is up for sale at the guide price of $25 million, according to JLL, sole marketing agent for the property.

At 56 Serangoon Garden Way, the two-storey shophouse occupies a corner lot of 2,122 sq ft, with a total built-up area of 3,482 sq ft. It is zoned for commercial use under URA’s Master Plan 2014.

The shophouse, located next to a carpark, fronts a busy junction and enjoys “wide dual frontage and high footfall”, says JLL. The property is a 12-minute walk from Chomp Chomp Food Centre, and a nine-minute walk from Serangoon Garden Market.

Currently, the property is tenanted to an Indian restaurant on the ground floor, and a beauty salon on the second floor.

Foreigners are eligible to purchase the property, highlights JLL. There will be no Additional Buyer’s Stamp Duty or Seller’s Stamp Duty imposed on the purchase of the property, it adds.

The Expression of Interest for the property will close on Tuesday, 11 December, at 3pm.