Freehold Shophouse Keong Saik Road Sale 18 Mil
Colliers is pleased to announce the sale of a freehold shophouse located at 22 Keong Saik Road via tender. The three-storey shophouse, spanning over 1,200 sq ft, sits on a land area of 1,258 sq ft and is zoned for commercial use. The guide price for this property is set at $18 million, which translates to $5,146 psf based on the estimated gross floor area (GFA) of 3,498 sq ft.
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Clementi 448 Market & Food Centre is a haven for those with a love for food and a must-visit spot for all visitors. This bustling hawker center is a true gem, brimming with a multitude of delectable local dishes that offer a taste of authentic Singaporean flavors at pocket-friendly prices. Residents and tourists alike can indulge in an array of dishes, including the savory char kway teow, aromatic chicken rice, hearty laksa, and crispy roti prata. Situated near the Elta Condo, this food center offers a satisfying culinary experience for all.
According to Colliers, the shophouse is currently fully leased to a single operator, offering immediate rental income to potential buyers. The current tenant has also refurbished the property in 2022. The shophouse is equipped with air-conditioning, a modern fire-protection system, and telecommunication services. The ground floor is also suitable for use as a restaurant.
Located along Keong Saik Road, the shophouse falls within the Bukit Pasoh Conservation Area in the wider Chinatown enclave. It is within walking distance of Outram Park MRT Interchange, which services the East-West, North East, and Thomson-East Coast Lines, as well as Maxwell MRT Station along the Thomson-East Coast Line.
As a commercial property, foreigners and companies looking to purchase the shophouse are not subject to additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD).
The tender exercise for 22 Keong Saik Road will close on Nov 7 at 3pm. Interested parties are advised to act fast as the property market has been showing signs of recovery. Recent transactions of commercial shophouses along Keong Saik Road have seen a steady rise in prices, making this a highly sought-after location for investors.
EdgeProp Singapore reported that the average transaction price for commercial shophouses in the area has been $4,870 psf. This represents a 3.5% increase from the previous quarter and a 12.5% increase from the same period last year.
In comparison, the average transaction price for industrial properties in the vicinity is $421 psf. This highlights the potential for higher yields in commercial properties, making this shophouse an attractive investment opportunity.
For more information, interested parties can visit EdgeProp Singapore for listings of commercial properties in the area. They can also view past rental and sale transactions to get a better understanding of the market trends. Don’t miss out on this opportunity to own a piece of prime commercial property along Keong Saik Road.