CBRE is marketing 8/8A Sixth Avenue, a freehold corner shophouse within the affluent Singapore suburb, District 10 with dual frontages, which is for sale through an Expression of Interest exercise.
The property sits on a freehold land of approximately 228 sqm, with a total gross floor area of 234 sqm. Strategically located at the junction of Sixth Avenue, the property enjoys prominent dual building frontages with high visibility and high volume of traffic flow. It is currently fully tenanted by reputable tenants and enjoys strong rental income stream.
Sixth Avenue has always been regarded as one of the more affluent residential enclaves in Singapore with a good population of high income families living in the vicinity. Over the years, it has transformed into a notable lifestyle and recreational options for the residents. The exciting retail and food and beverage scene in the area allows the property to leverage on the hive of the bustling activities in the area.
Sammi Lim, associate director, investment properties with CBRE, says the property is an exceptional offering as it provides a rare opportunity to acquire a prominent freehold corner shophouse with the immediate neighbourhood predominantly surrounded by landed houses.
“Such an offering is hardly available; especially one which enjoys the combination of being located in an affluent neighbourhood and with an approval for F&B use for the ground floor space.”
Potential buyers can enjoy strong and stable rental income stream and are expected to enjoy capital upside in the medium term in conjunction with the completion of the Sixth Avenue MRT station which is located five minutes’ walk away.
“With increasing demand for shophouse properties, and the scarcity of such purchase opportunities in the market, we envisage strong interest from investors, retailers, family offices and high net-worth individuals, who are looking for good assets like this one for potential rental and capital appreciation,” said Sammi.
Expressions of Interest close on Tuesday, January 12 at 3pm.
