Savills Singapore, as the exclusive marketing agent, is proud to offer for sale 311 to 321 (Odd Nos) Geylang Road – six adjoining Freehold, two-storey shophouses situated amidst the bustling Geylang locale.
Prominently located in the main thoroughfare of Geylang, the property enjoys prominent dual road frontages of approximately 60 metres along the main Geylang Road and Lorong 17 Geylang.
The shophouses sit on 6 individual land titles with a combined land area of approximately 9,792 square foot and a total floor area of approximately 17,014 square foot, with selected units inclusive of an attic level.
Under the Urban Redevelopment Authority's (URA) Master Plan 2019, the shophouses are zoned “Commercial” with a plot ratio of 3.0 and five-storey rear extension permitted. This allows for tremendous value-add potential to tap the unutilised floor area of approximately 12,362 square foot.
Prominently situated in the heart of Geylang, the properties are located directly across from Lorong 4 Geylang to Lorong 20 Geylang, which has been rezoned to “Commercial / Institution. This area is the gateway between the commercial nodes of the Paya Lebar Sub-Regional Centre and the Central Business District. Further, the location will also benefit from the growth of activities and new footfall from the ongoing rejuvenation at Paya Lebar Sub-Regional Centre and Kallang Riverside / Kampong Bugis. The shophouses enjoy excellent accessibility with Aljunied MRT station a short 7 mins walk. Via Pan Island Expressway (PIE), Kallang-Paya Lebar Expressway (KPE) and Nicoll Highway, the shophouses are also well-connected to the rest of Singapore.
Mr Galven Tan, Deputy Managing Director, Investment Sales & Capital Markets at Savills Singapore, shared: “Strategically located between growth clusters outlined by the URA, the shophouses are poised to benefit from the vibrancy and increasing population catchment. This is an exceptional opportunity for investors to recreate the streetscape through the curation of uses that will tap on the growth of the area.”
Foreigners and companies are eligible to purchase the properties and no Additional Buyer Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) will be imposed.
The sale will be conducted through an Expression of Interest exercise, which closes on Wednesday, 9 November 2022, at 3pm.