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Eight freehold commercial units at Grandview Suites in Geylang on the market at $26 mil

By Nur Hikmah Md Ali

/ EdgeProp Singapore |

July 2, 2024 4:59 PM SGT

Grandview Suites is a five-storey development comprising 52 residential units and eight commercial units. (Photo: Huttons Asia)

SINGAPORE (EDGEPROP) - A total of eight freehold commercial units at mixed-use development Grandview Suites along Lorong 22 Geylang in District 14 have been put up for sale via an expression of interest exercise (EOI). Huttons Asia, who is marketing the property, announced on July 2 that the properties have a collective guide price of $26 million.

Grandview Suites is a five-storey development comprising 52 residential units and eight commercial units. Completed in 2016, the freehold development sits at the corner of Geylang Road and Lorong 22 Geylang.

The commercial units are all located on the ground floor, with three of them situated in a conserved building that fronts Geylang Road and is attached to the main residential block. The building formerly housed the historical Aerated Water Eastern Company. “This unique blend of heritage and modernity adds a distinctive charm to these commercial spaces,” notes James Wong, head of sales and auction at Huttons Asia.

Read also: Shincon Industrial sold three freehold shophouses along Geylang Road $18.68 mil

The strata retail shops have a combined floor area of 8,804 sq ft, with unit sizes ranging from 409 sq ft to 3,068 sq ft. Currently, they are tenanted to a gym, medical and dental clinics, a commercial school and a salon.

As the eight units are zoned for commercial use, they are not additional buyer’s or seller’s stamp duty payable, says Lee Sze Teck, Huttons Asia’s senior director of data analytics. “Additionally, Grandview Suites presents a compelling opportunity to investors and businesses due to its strategic location with high visibility and convenient access,” he adds.

The eight commercial units had been put up for sale in 2021 for the same guide price of $26 million, and were previously marketed by Knight Frank Singapore.

The EOI for the properties ends on July 25 at 4pm.

Check out the latest listings for Commercial Real Estate properties

Tags:

Geylang Road Commercial Property

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