Real estate company DTZ has been appointed sole marketing agent for the sale of a conserved corner unit Singapore shophouse in Serangoon Road.
The two-storey property is being sold by auction at The Amara Hotel in Tanjong Pagar Rd on May 25. The shophouse includes an attic, accessible via an external staircase, and the freehold property has a land area of about 2096 sqft (195 sqm) and a gross floor area of about 4000 sqft.
Under the Urban Redevelopment Authority’s (URA) Master Plan 2014, the shophouse is on land zoned for commercial use.
DTZ says the property has the potential to be enhanced by a rear extension of up to five storeys, subject to official approval. The second floor has been permanently converted for residential use.
Within the Jalan Besar Conservation Area, the property is surrounded by other conserved shophouses, flats and apartments, plus there are upcoming condominium projects nearby such as Sturdee Residences and The Citron Residences. There are shops, food-and-beverage outlets, banks and clinics around the area, while City Square Mall, Mustafa Centre and Serangoon Plaza are within walking distance.
DTZ says such freehold shophouses are rarely available on the market, and the indicative price for the property is around S$6 million (US$4.36 million). It is not subjected to stamp duties. The property is tenanted.
