Savills has been appointed as sole marketing agent for the sale of 2 prime commercial shophouses.
Savills has been appointed as sole marketing agent for the sale of 2 prime commercial shophouses.
157,159 and 161 Geylang Road
Located within the Geylang Conservation Area, the property is zone ‘Commercial’ with a plot ratio 3.0 and an allowable building height of up to 5 storeys for new rear extensions under the Master Plan 2014. The land area and estimated floor area are 2,988 sq ft and 8,331 sq ft respectively.
The 2-storey corner shophouse with a 4-storey rear extension enjoys a prominent double frontage along Geylang Road and Lorong 3 Geylang and is within 300m to Kallang MRT Station. It is tenanted to the popular G7 Sin Ma Live Seafood Group. The guide price is S$10.8 million.
84 and 86 Tanjong Pagar Road
A pair of adjoining conservation shophouses located in the Chinatown Historic District of Tanjong Pagar. The property is zoned “Commercial” under the current Master Plan with no restriction on foreign ownership.
The 3-storey shophouses, with a land area and estimated floor area of 1,653 sq ft and 4,564 sq ft respectively, enjoy excellent main road frontage and visibility. The area is well-known for the wide array of eateries and bridal boutiques. The property is 200m to the upcoming Maxwell MRT Station on the Thomson-East Coast Line. The guide price is S$9.5 million.
New neighbouring developments such as Tanjong Pagar Centre, which is set to be the tallest building in Singapore upon completion, and the iconic The Pinnacle @ Duxton are both part of the rejuvenation plans for the area. Tanjong Pagar is also well-positioned to benefit from the makeover as part of the Greater Southern Waterfront under the current Master Plan.
“The rare availability of these two properties with excellent attributes presents an exceptional and exciting opportunity for investors and end users seeking prime commercial shophouses.” commented Derrick Tan, associate director of Investment Sales at Savills.
The expression of interest closes on Thursday 12 November 2015, 3:00pm.