>

>

Six adjoining two-storey commercial shophouses in Geylang for sale

By Hailey Yu

/ EdgeProp Singapore |

October 6, 2022 7:11 PM SGT

Six adjoining shophouses for sale at Geylang (Credit: Savills)

EDGEPROP (SINGAPORE) - Six adjoining freehold two-storey shophouses in Geylang have been put up for sale via expression of interest (EOI). Savills is the exclusive marketing agent for the property sale.

Read also: Freehold shophouse in Geylang on the market for $18 mil

The shophouses are located on the odd numbers of 311 to 321 Geylang Road, and have prominent dual road frontage along Geylang Road and Lorong 17 Geylang.

The six individual land-plots have a total land area of 9,792 sq ft and a built-up area of 17,014 sq ft. There is an attic level on some of the units.

The site is zoned for commercial use and has a plot ratio of 3.0 with a five-storey rear extension permitted. Buyers could tap into the underutilised potential by adding up to 12,362 sq ft of built-up space, according to Galven Tan, deputy managing director of investment sales and capital markets at Savills.

A neighbouring unit at 323 Geylang Road measuring 1,988 sq ft in land area changed hands in September last year for $10.1 million, or $5,080 psf, according to SISV Realink. Based on the psf land price, the value of the six adjoining units on the market is estimated at $50 million.

The shophouses are directly across from Lorong 4 Geylang to Lorong 20 Geylang, which was recently re-zoned to commercial or institutional use. (Find Singapore commercial properties with our commercial directory)

The area is near the Paya Lebar sub-regional centre and the CBD, both a short drive away via the Pan Island Expressway, Kallang-Paya Lebar Expressway and Nicoll Highway. The nearest MRT Station, Aljunied (on the East-West Line), is a seven-minute walk away.

“The shophouses are poised to benefit from the growth of activities and footfall from the ongoing rejuvenation at Paya Lebar Sub-Regional Centre and Kallang Riverside / Kampong Bugis,” notes Tan.

Foreigners and companies are eligible for purchase with no additional buyer’s stamp duty or seller’s stamp duty imposed.

The EOI exercise will close on Nov 9 at 3pm.

Check out the latest listings near Geylang, Aljunied MRT Station

Tags:

shophouse sale Geylang

Follow Us

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

Subscribe to our newsletter

Top Articles

1

Emerald of Katong hits 99% sales at launch, averaging $2,621 psf

2

Kingsford sells 76% of Chuan Park units at an average price of $2,579 psf

3

Is it a Good Deal?: $1.03 million for a four-room HDB flat in District 10

4

Sim Lian Group’s Emerald of Katong: Will it be another top-seller?

5

CDL sells 20% of Union Square Residences at an average price of $3,200 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