Savills Singapore, as the exclusive marketing agent, is pleased to offer for sale - a pair of newly built shophouses sitting on a freehold corner plot at 24 and 26 Moonstone Lane via an Expression of Interest (EOI) exercise.
24 and 26 Moonstone Lane feature a pair of non-conservation 2-storey with attic and balcony shophouses. Sitting on 2 individual titles with a combined freehold site of approximately 2,877 square feet and a total floor area of approximately 6,152 square feet, the shophouses are newly built and enjoy “Restaurant” approval on the ground floor. Under the Master Plan 2019, both shophouses are zoned “Residential with Commercial at 1st Storey” with a plot ratio of 3.0. Together, they have a maximum allowable floor area of approximately 8,632 square feet.
The Moonstone Lane estate is a mature residential enclave with several landed houses as well as a mix of high- and low-rise apartment blocks and condominiums. Nestled within this estate, the shophouses boast of strong connectivity via car or public transport. Well-served by expressways such as Pan Island Expressway and Central Expressway, the CBD is just a short 10 minutes’ drive while Potong Pasir MRT station is just a 8 minutes’ walk.
Ms. Yap Hui Yee, Executive Director, Investment Sales & Capital Markets at Savills Singapore: “The shophouses have been thoughtfully designed and tastefully retrofitted, and as such, they would appeal to a wide pool of buyers who are looking to either purchase for their own use or for investments. Buyers who are looking to purchase for their own use can reside on the upper floors while operating their F&B business on the ground floor, tapping onto the pool of residences in the vicinity. Alternatively, investors can explore renting the shophouses to co-living operators or obtaining serviced apartments, subject to authorities’ approval.”
Aside from strong connectivity, 24 and 26 Moonstone Lane are also in close proximity to well-established schools. Bendemeer Primary School and St. Andrew’s Junior School are within 1km of the shophouses while Pei Chun Public School, Hong Wen School, First Toa Payoh Primary School and Cedar Primary School are within 2km of the shophouses.
Having been identified by URA as a growth cluster, the shophouses are strategically located and well-positioned to benefit from the ongoing rejuvenation of Kallang Riverside / Kampong Bugis which would see added vibrancy and activity in the area.
Ms Yap shared: “We are seeing stronger interest and increased enquiries on the shophouses in the Moonstone Lane estate which comprises of Moonstone Lane, Ruby Lane and Opal Crescent. There has been a flurry of transactions within the estate over the last year and the incoming buyer can expect strong capital appreciation in the medium term on the back of URA’s vision to transform the area along Kallang River into a mixed-use lifestyle hub.”
Interested parties are invited to offer for the shophouses individually or collectively. The guide price for 24 Moonstone Lane and 26 Moonstone Lane is $6 million and $6.68 million respectively. Collectively, the shophouses have a guide price of $12.68 million.
The sale will be conducted through an Expression of Interest exercise which closes on Thursday, 9 November 2023, at 3pm.