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COMMERCIAL PROPERTY | Staff Reporter, Singapore

Serangoon Garden shophouse up for sale at $25m

It has a land area of 2,122 sqft.

A 999-year leasehold corner shophouse in Serangoon Garden is up for sale at $25m via Expression of Interest (EOI), JLL revealed.

With a land area of 2,122 sqft and total built-up area of approximately 3,482 sqft, the two-storey shophouse enjoys a wide dual frontage and high footfall. It has been approved for permanent “restaurant” use on the ground floor and “shop” use for the upper floor.

Currently fully-tenanted, the property’s ground floor is leased to an Indian restaurant whilst the upper floor is leased to a beauty salon. It can also be used for alternative purposes such as retail retail, education, entertainment and medical amongst others, subject to approval from relevant authorities, due to its commercial zoning.

As the property sits on land zoned for commercial use, foreigners are eligible to purchase the property. There is no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) imposed on the purchase of the property.

The EOI exercise will close on 11 December at 3 pm.

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