01/06/2022
PropNex Richard Tan Division sold another prime shophouse! Congratulations to RTD commercial team, which has transacted a significant number of units in the first five months of 2022. Well done!
Shophouse deals brought in S$471 million in the first quarter of
this year, up 29 percent year on year, according to PropNex's quarterly report. This trend will continue throughout 2022.
Based on their unit prices, shophouse values in Singapore's hotspots, such as Districts 1, 2, 7, 8, 14, and 15, rose by varying degrees during the quarter.
✅ We have another hotspot listing - a row of seven shophouses at Geylang Road up for sale with a reserve price of S$50 million. The properties are for sale in an expression of interest (EOI) exercise that closes on June 18.
Rarely available to have expansive, a row of more than five shophouses in a portfolio for sale. Along the main commercial street of Geylang Road in District 14. According to the latest master plan, zoned under "commercial" with a gross plot ratio of 3.0. They comprise two-floor shophouses with an estimated 10,520 sq ft est combined land area.
The properties have also received provisional planning permission to add attic spaces to bring their total gross floor area to an estimated 23,565 sq ft.
Commercial offerings in the surrounding area include hardware, sanitaryware, interior design firms, gyms, and co-working and co-living spaces. "Thus, this sales opportunity presents a low-risk, safe, and attractive redevelopment opportunity for the next owner with the potential to have steady rental income," says Richard Tan.
Given its commercial zoning, the properties will not incur additional buyer's stamp duty (ABSD) or seller's stamp duty (SSD). Therefore, locals and foreigners can purchase them.
Call us to find out more now!
https://www.richardtancommercialteam.com
☎️ +65 9619 1191
📲 wa.me/6596191191
