Freehold shophouse on Keong Saik Road up for sale at $18 mil
By Nicholas Lam
/ EdgeProp Singapore |
Zoned for commercial use, the three-storey shophouse sits on a land area of 1,258 sq ft and has an estimated gross floor area (GFA) of 3,498 sq ft. (Photo: Colliers)
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A freehold shophouse located at 22 Keong Saik Road is up for sale via tender by Colliers.
Zoned for commercial use, the three-storey shophouse sits on a land area of 1,258 sq ft and has an estimated gross floor area (GFA) of 3,498 sq ft. Therefore, the guide price of $18 million works out to $5,146 psf based on GFA.
According to Colliers, the property is fully leased to a single operator, offering immediate rental income to potential buyers. The current tenant refurbished the property in 2022.
The shophouse comes equipped with air-conditioning, a modern fire-protection system and telecommunications service. The ground floor is also suitable for use as a restaurant.
Located along the eastern side of Keong Saik Road, the shophouse falls within the Bukit Pasoh Conservation Area in the wider Chinatown enclave. It is within walking distance of Outram Park MRT Interchange along the East-West, North East, and Thomson-East Coast Lines; as well as Maxwell MRT Station along the Thomson-East Coast Line.
As the shophouse is a commercial property, foreigners and companies looking to buy it are not subjected to additional buyer’s stamp duty (ABSD) nor seller’s stamp duty (SSD).
The tender exercise for 22 Keong Saik Road will close on Nov 7 at 3pm.
Recent commercial shophouse transactions along Keong Saik Road. (Source: URA, EdgeProp Singapore)
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