Six adjoining freehold shophouses along Geylang Road up for sale
Expression of Interest ends on 9 November at 3 pm.
A total of six adjoining, freehold, two-storey shophouses at 311 to 321 (Odd Nos.) Geylang Road is up for sale, to be conducted via the Expression of Interest exercise which will close on 9 November at 3 pm.
In a statement, Savills said the six individual land titles have a combined land area of around 9,792 square feet (sq. ft.), and a total floor area of around 17,017 sq. ft., with selected units with an attic level.
The properties are under the “commercial” zone in the Urban Redevelopment Authority’s (URA) Master Plan 2019 with a plot ratio of 3.0 and are permitted to have a five-storey rear extension, enabling to expand and tap the unutilised floor area of around 12,362 sq. ft.
“Strategically located between growth clusters outlined by the URA, the shophouses are poised to benefit from the vibrancy and increasing population catchment. This is an exceptional opportunity for investors to recreate the streetscape through the curation of uses that will tap on the growth of the area,” said Galven Tan, deputy managing director, Investment Sales & Capital Markets at Savills Singapore.
Savills added that foreigners and companies may buy the properties without the imposition of Additional Buyer Stamp Duty or Seller’s Stamp Duty.