>

>

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

Follow Us

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

UOL and CapitaLand to acquire Thomson View Condo for $810 mil

2

Is it a Good Deal?: A freehold three-bedroom in D9 sold for $3.27 million, making a $2.03 million profit

3

Chuan Park attracts 5,000 visitors on first day of preview

4

Emerald of Katong draws 10,000 as crowds surge at project sales galleries during Deepavali weekend

5

Executive Condo launches in the pipeline to test new highs of $1,700 psf

Our Site

Follow Us

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

View More

Close Ad

00:00