Two Freehold Strata Titled Shophouse Units Sale 96 Mil
Savills Singapore marketing two freehold shophouse units for $9.6 mil via EOI exercise
An exclusive marketing agent, Savills Singapore, has put up for sale a portfolio of two freehold strata-titled shophouse units through an expression of interest (EOI) exercise. With a guide price of $9.6 million, the properties are expected to garner significant interest.
The first unit, located on Keong Siak Road, is a freehold shophouse comprising the third floor, spanning 1,039 sq ft. The property is currently tenanted and is being sold with the existing tenancy in place. The guide price for this unit is $4.48 million, which translates to $4,312 psf based on the floor area.
The second unit, situated on Joo Chiat Road, is a ground-floor shophouse spanning 1,609 sq ft. The property has a guide price of $5.08 million, which works out to be $3,157 psf based on the floor area. This unit is suitable for various commercial uses, including F&B takeaway shops, as well as medical and wellness centres.
According to Savills, both properties benefit from high foot traffic and have prominent street frontages. They are strategically located in vibrant lifestyle hubs, offering popular eateries, boutique hotels, artisanal cafes, and creative firms.
Yap Hui Yee, Executive Director of Investment Sales and Capital Markets at Savills Singapore, says, “Freehold shophouses continue to be one of the most sought-after asset classes among investors and buyers.” She adds, “This portfolio of two freehold strata-titled shophouses, priced at around $5 million each, presents a rare and compelling opportunity for investors to enter Singapore’s tight shophouse market. Located in Keong Saik and Joo Chiat, these properties offer an exceptional chance for investors to acquire prime assets at an affordable quantum.”
Both shophouses can be purchased individually or as a portfolio. The EOI exercise will close on May 8 at 3pm.
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