EDGEPROP (SINGAPORE) - A freehold two-storey commercial shophouse on Holland Avenue is up for sale via public tender at an indicative price of $15.5 million, or $5,565 psf on built-up area. CBRE is appointed as the exclusive marketing agent for the property.

Read also: Two adjoining shophouses at Devonshire Road on the market for $15.6 mil

Located on 263 Holland Avenue, the shophouse has a built-up area of 2,785 sq ft and a land area of 1,503 sq ft. It is zoned for commercial use and is currently leased to a bank which has been a tenant for more than 10 years, providing a stable base of income for the prospective buyer.

A staircase that leads to the second floor is located at the front of the shophouse, giving buyers the opportunity to lease the property to two tenants.

Both locals and foreigners are eligible to purchase with no additional buyer’s stamp duty or seller’s stamp duty imposed on the commercial property transaction.

Joshua Giam, associate director of CBRE’s capital markets, anticipates the property to be attractive to investors, as commercial shophouses in Holland Village are scarce, with 66 units, and rarely on the market. (Find Singapore commercial properties with our commercial directory)

Holland Village MRT Station (on the Circle Line) is within walking distance.

Holland Village is a popular lifestyle neighbourhood with a distinct character and heritage. It offers diverse cultural, entertainment, F&B and lifestyle options that appeal to locals and tourists. The upcoming integrated mixed-use development, One Holland Village, will add 296 residential units and 255 units of serviced apartments to the area.

Giam expects the property to capture capital and rental upsides from rejuvenation in the area.

The tender will close on Nov 3 at 2pm.

Check out the latest listings near Holland Village, One Holland Village, Holland Village MRT Station