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Freehold conservation shophouse in Balestier on the block for $4.29 mil

By Atiqah Mokhtar

/ EdgeProp Singapore |

September 13, 2022 12:37 PM SGT

A two-storey freehold conservation shophouse on Balestier Road in District 12 will be auctioned on Sept 20 (Picture: One Global Group)

SINGAPORE (EDGEPROP) - A two-storey freehold conservation shophouse on Balestier Road in District 12 will be auctioned on Sept 20 with a guide price of $4.288 million. According to One Global Group, which is handling the auction, it is an owner’s sale.

Read also: Freehold corner terraced house at Countryside Road sold for $5.01 mil

The shophouse has a land area spanning 1,068 sq ft, which is approved for commercial and residential use. To that end, foreigners are not eligible to purchase the shophouse, and Additional Buyer's Stamp Duty (ABSD) is applicable due to the residential component.

The shophouse has a built-up area of 2,036 sq ft. It has been well-kept and is in move-in condition, says Linda Lim, One Global’s corporate sales manager. “Investors will not need to spend much on renovations unless they want to change the existing uses offered at the site,” she adds.

Currently, the property's first floor is leased to a beauty salon, while the second floor is leased out to a corporate tenant. The property will be sold with the existing tenancies. “Potential owners looking to purchase this shophouse unit would be able to benefit from the existing leasing arrangements that are in place, and they can expect a steady stream of rental income,” says Lim.

She adds that there is potential to increase the property’s gross floor area. The site has a gross plot ratio of 3.0 and a maximum allowed height of six storeys.

The shophouse is about 700m away from the Toa Payoh MRT Station on the North-South Line. It is also within walking distance of two hotels — Ramada and Days Hotel at Zhongshan Park — which Lim says contributes to a steady pool of customer traffic to the immediate vicinity.

Check out the latest listings near Balestier, Toa Payoh MRT Station

Tags:

Balestier One Global Group auction Conserved shophouse

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