They have a combined area of 24,240 sqft with first storeys approved for commercial zoning.
Seven freehold shophouses, with a combined area of 24,340 sq ft, along Sembawang Road are up for en bloc sale at $24m with a land rate of $814 psf ppr, Edmund Tie & Company (ET&Co) revealed.
“With the lack of private land sale and supply of land in this area, this is a rare chance for developers to create a freehold product in the mature Sembawang estate,” Edmund Tie and Company senior director for investment advisory Tan Chun Ming commented.
Having a gross plot ratio of 1.4 under the URA Master Plan 2014, the subject property has a residential zoning with the first floor approved for commercial zoning. It is also nearby some public housing including Northwoods Condominium and Euphony Gardens as well as Yishun Junior College and Jiemin Primary School.
“We see a great opportunity for retailers to cater to residents in the Sembawang area and to enliven its retail scene,” Tan added.
The shophouses have a dual access from main Sembawang Road and Jalan Lengkok Sembawang as well as connectivity to other parts of Singapore through major roads including the Seletar Expressway (SLE) and Central Expressway.
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