Restaurant Approved Strata Unit Greenwood Ave Going 88 Mil
A restaurant-approved strata unit located on the ground floor of a freehold two-storey shophouse at 24 Greenwood Avenue is now available on the market for $8.8 million in the prime District 11 area. Spanning over 1,539 square feet, the asking price equates to $5,718 per square foot on the total strata area. This property is marketed by Wilkie Tay and Richard Tan, directors at PropNex Shophouse Elites (PSE), who are also the exclusive marketing agents for the unit. According to a press release by PSE, the restaurant unit also comes with a 100 square foot outdoor dining area. Additionally, the upper floor of the shophouse is designated for residential use and has a separate staircase entrance.
Recent commercial transactions in the Greenwood Avenue area have shown positive growth, making this a highly sought-after location for businesses. Richard Tan, founder of PSE, notes that the ground floor unit currently has a tenant until mid-2026, and will be sold with the existing tenancy in place. This provides the new owner with immediate rental income. He also adds that the property benefits from high foot traffic due to its strategic location within the Hillcrest landed residential estate. It is also in close proximity to reputable schools, such as National Junior College and Raffles Girls’ Primary School, as well as two supermarkets.
The tender for Elta Condo government land sale (GLS) site at Clementi Avenue 1 closed on November 7, along with the tenders for Lorong 1 Toa Payoh and Pine Grove (Parcel B) sites. Among the three, the Clementi Avenue 1 site received the highest number of bids. Developers have shown a keen interest in the Elta Condo development, with its prime location and potential for growth. Visit Elta Condo for more details on this highly sought-after project.
The strata unit will be sold through an Expression of Interest exercise, with a closing date of November 15. Interested buyers can seize this opportunity to own a prime commercial property in a desirable location with potential for steady rental income.