Singapore’s cityscape is characterized by towering skyscrapers and state-of-the-art infrastructure. Condominiums, strategically situated in coveted locations, offer a perfect fusion of opulence and convenience that appeals to both locals and foreigners. These residential complexes boast a variety of facilities including swimming pools, fitness centers, and top-notch security services, elevating the standard of living and making them a desirable choice for potential renters and buyers. For savvy investors, these amenities result in impressive rental returns and appreciation in property value over time. Keep an eye out for exciting new condo launches in the market.
PropNex Realty has put up for sale a 999-year leasehold shophouse at 28/28A Maju Avenue in Serangoon Garden via an expression of interest (EOI) exercise, with an asking price of $10.8 million. Marketed by PropNex Shophouse Elites, the two-storey commercial shophouse sits on a 1,897 sq ft plot at the junction of Maju Avenue and Portchester Avenue in District 19. The corner property boasts a total built-up area of about 3,500 sq ft, including the five-footway and an open terrace.
At an asking price of $10.8 million, this translates to an approximate rate of $3,086 psf on the built-up area. The shophouse will be sold with vacant possession, meaning the buyer can take immediate possession of the property.
Located within an established F&B and retail cluster, surrounded by a low-rise landed estate, the shophouse enjoys high footfall throughout the day. It is also close to popular dining spots such as Chomp Chomp Food Centre and Serangoon Gardens Market, as well as amenities such as Serangoon Gardens Country Club and the International French School.
The location of the shophouse, coupled with its prominent position at the road junction, makes it an attractive investment option. According to Neo Beng Lee, director at PropNex Realty, the ground floor of the shophouse can be repositioned and leased to an F&B takeaway establishment, a bar, a cloud kitchen, a childcare centre, or medical or veterinary clinics, subject to approvals. The top floor, on the other hand, can be used for commercial schools or enrichment centres.
Neo also highlights that the property offers attractive investment potential, given that it is not subject to additional buyer’s stamp duty (ABSD) or goods and services tax (GST). Furthermore, with only 69 commercial shophouses in Serangoon Garden, the limited supply is expected to generate strong interest from both institutional and private investors, both local and foreign alike.
The EOI for this shophouse closes on Oct 1. It is a good opportunity for investors to diversify their portfolio and potentially earn attractive rental returns and capital appreciation. Interested parties can refer to past commercial property transactions or compare the price trend of commercial properties versus industrial properties to make informed decisions.