>

>

Two freehold properties put up for estate sale by auction

By Cecilia Chow

October 12, 2014 12:00 AM SGT

Devonshire Road two-storey intermediate terrace house

Two freehold double-storey conservation shophouses located on Beach Road and Devonshire Road will be put up for auction by Colliers International on Oct 29. Both are estate sales. The shophouse on Beach Road is located within the Kampong Glam conservation area, has a land area of 1,381 sq ft and is currently tenanted. Its upper level is accessible via a side staircase. The site has been zoned for “commercial” use under the 2014 Master Plan. The indicative price is $5.1 million.

The Beach Road neighbourhood is being rejuvenated with new, large-scale mixed-use schemes such as DUO and South Beach Development.

According to Grace Ng, deputy managing director of Colliers International, the shophouse rental rate has the potential to exceed $10,000 a month. According to data from Colliers, the current average transacted price for shophouses in the district is approximately $4,700 psf, which is 20% higher than the $3,900 psf achieved in 2013. For instance, a shophouse on Beach Road was sold recently for $4.9 million. The owner purchased it for $2.18 million in 2010, hence, a capital gain of 125% in four years.

Meanwhile, the two-storey intermediate terrace house on Devonshire Road includes an attic, and occupies a land area of 1,045 sq ft. It is currently tenanted and access to the upper level is via a side staircase. The indicative price is $4.4 million. The property is zoned for “residential” use under the 2014 URA Master Plan. Ng says it is ideal for use as a home office, subject to approval by the relevant authorities.

Ng says there are only 16 units of terrace houses along that stretch of Devonshire Road and the last transaction of a unit was in 2007. As such, the property will appeal to both investors and end-users.

This article appeared in the City & Country of Issue 647 (Oct 13) of The Edge Singapore.

Tags:

shophouse auction Beach Road Devonshire Road Colliers auction intermediate terrace

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