Shophouse on Sims Road on sale for $7.5 mil
By Timothy Tay
/ EdgeProp Singapore |
The two-storey shophouse at 205 Sims Ave is priced from $1,958 psf. (Picture: Huttons Asia)
SINGAPORE (EDGEPROP) - A freehold corner shophouse at 205 Sims Avenue has been put up for sale with a guide price of $7.5 million, announced Huttons Asia, the property's marketing agent. The two-storey shophouse has a total built-up area of about 3,830 sq ft, and the guide price translates to $1,958 psf on the floor area.
The shophouse is situated at the junction of Sims Avenue and Lorong 21A Geylang with dual frontage on both roads — about 30m along Lor 21A Geylang and 13.9m along Sims Avenue. The site is zoned "residential/institution" with a gross plot ratio of 3.0 under the latest Master Plan.
“Corner shophouses with dual frontage are rare and highly sought after,” says Jeremy Lim, senior group district director of Huttons Asia. “The coffeeshop is also fully leased, and the new owner can continue to enjoy an attractive yield or convert it into mid- to high-end dining to increase the returns.”
The shophouse viewed through EdgeProp's Landlens tool. (Map: EdgeProp Singapore)
The property is expected to draw in many prospective buyers and investors given its location in a popular area in District 14 and "attractive" price quantum of below $10 million, adds Lee Sze Teck, senior director of research at Huttons Asia.
The shophouse will be sold in an expression of interest exercise that closes on July 20.
Check out the latest listings near Sims Avenue, Lorong 21A Geylang
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