{"id":117880,"date":"2020-07-21T10:59:44","date_gmt":"2020-07-21T03:59:44","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/three-adjoining-shophouses-in-geylang-on-sale-for-12mil\/"},"modified":"2020-07-21T11:03:33","modified_gmt":"2020-07-21T04:03:33","slug":"three-adjoining-shophouses-in-geylang-on-sale-for-12mil","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/three-adjoining-shophouses-in-geylang-on-sale-for-12mil\/","title":{"rendered":"Three adjoining shophouses in Geylang on sale for $12mil"},"content":{"rendered":"


\nThree adjoining freehold conservation shophouses at 223, 225 and 227 Geylang Road have been put up for sale via expression of interest (EOI), carrying a guide price of $12 million, revealed marketing agent CBRE.
\nThis works out to around $1,172 per sq ft per plot ratio, after taking into account an estimated development charge of $3.2 million.
\nWith a total built-up area of around 6,754 sq ft, the two-storey shophouses sit on a combined site of about 4,318 sq ft.
\nThe site is zoned for \u201cCommercial\u201d use under the 2019 Master Plan with a plot ratio of 3.0.
\nRelated article:\u00a0How To Understand The URA Master Plan And Make Your Property An Investment
\nSituated within the Geylang Secondary Settlement Conservation Area, the shophouses are fully leased to multiple tenants. Ground-floor tenants include two entertainment clubs and a restaurant; while upper floor units are leased to residential and office tenants.
\n\u201cGiven the site\u2019s excellent attributes such as its freehold tenure, city fringe location, main road frontage, we\u2019re confident that it will appeal to a wide pool of buyers including investors, owner-occupiers and small to mid-sized developers,\u201d said Clemence Lee, Senior Director of Capital Markets at CBRE.
\n\u201cThe successful buyer can explore maximizing the site\u2019s plot ratio of 3.0 by constructing a rear extension and increasing the built-up area to a total of 12,955 square feet, subject to approval from the relevant authorities. Consequently, the subject property can become a boutique building that potentially houses a F&B outlet and showroom on the ground floor, and serviced apartments or offices on the upper floor, again subject to approval from the relevant authorities.\u201d
\nHe added that the buyer will enjoy naming and signage rights to the property.
\nAnd since Geylang Road is strategically situated between two growth centres outlined by the Urban Redevelopment Authority \u2013 the Kallang Riverside Lifestyle Precinct and the Paya Lebar Regional Centre, the buyer can also expect \u201cstrong rental and capital appreciation in the medium to long term\u201d, said Lee.
\nRelated articles:\u00a0Additional Buyer\u2019s Stamp Duty (ABSD): A Simple Guide for Property Buyers
\nCBRE noted that foreigners can acquire the shophouses, with no Additional Buyer\u2019s Stamp Duty or Seller\u2019s Stamp Duty payable.
\nThe EOI exercise for the shophouses closes on 27 August.
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nEugenia Liew, Senior Digital Content Specialist at PropertyGuru, edited this story. To reach her with feedback on this or other stories, email\u00a0eugenialiew@propertyguru.com.sg.\u00a0
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Three adjoining shophouses in Geylang on sale for mil<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Three adjoining freehold conservation shophouses at 223, 225 and 227 Geylang Road have been put...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-117880","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-uFi","jetpack-related-posts":[{"id":31788,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/upper-bukit-timah-shophouses-on-sale-for-20-million\/","url_meta":{"origin":117880,"position":0},"title":"Upper Bukit Timah shophouses on sale for $20 million","date":"October 27, 2016","format":false,"excerpt":"\r The guide price works out to $718 psf per plot ratio on the floor area. (Photo: CBRE) A cluster of five adjoining shophouses along 824-836 Upper Bukit Timah Road have been put up for sale by public tender, said marketing agent CBRE. The guide price for the row of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111235,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/duxton-hill-conservation-shophouses-for-sale-for-s11m\/","url_meta":{"origin":117880,"position":1},"title":"Duxton Hill conservation shophouses for sale for S$11m","date":"October 1, 2019","format":false,"excerpt":"\r Located on 39 and 40 Duxton Road and within the Tanjong Pagar conservation area, the shophouses are around 550 m from the Tanjong Pagar MRT station and are near the upcoming Maxwell MRT Station (Image Source: Lush Home Media) A pair of conservation shophouses located in Duxton Hill, Tanjong\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":117840,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/green-court-up-again-for-en-bloc-sale\/","url_meta":{"origin":117880,"position":2},"title":"Green Court up again for en bloc sale","date":"July 17, 2020","format":false,"excerpt":"\r The three-storey development comprises three ground floor shops and six duplex walk-up apartments on the second floor. Photo: Knight Frank. Green Court, a freehold mixed-use redevelopment site along Geylang Road, has been relaunched for collective sale, with the owners expecting offers above their $28 million reserve price, revealed marketing\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":113987,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/wing-fong-mansions-and-wing-fong-court-in-geylang-for-sale\/","url_meta":{"origin":117880,"position":3},"title":"Wing Fong Mansions and Wing Fong Court in Geylang for sale","date":"January 31, 2020","format":false,"excerpt":"\r \u00a0 Wing Fong Mansions in Geylang has been put up for collective sale by PropNex Realty with a S$176 million reserve price, reported The Business Times. At least 80% of Wing Fong Mansions\u2019 owners have consented to an en bloc sale, revealed Richard Hau, lead property consultant for PropNex\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":110875,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/geylang-shophouses-damaged-in-fire-found-to-be-overcrowded\/","url_meta":{"origin":117880,"position":4},"title":"Geylang shophouses damaged in fire found to be overcrowded","date":"September 18, 2019","format":false,"excerpt":"\r The URA is also investigating whether the units were converted into dormitory accommodation without any proper authorisation. A spokesman for the Ministry of Manpower revealed that the two shophouses at Geylang Lorong 4 which were damaged in a fire on 15 September were overcrowded, reported The New Paper. The\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":135564,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-in-february-2023-up-despite-bsd-hikes-government-pilots-singles-shared-room-facilities-and-more\/","url_meta":{"origin":117880,"position":5},"title":"New Private Home Sales in February 2023 Up Despite BSD Hikes, Government Pilots Singles Shared Room Facilities, and More","date":"March 20, 2023","format":false,"excerpt":"\r New Private Home Sales in February 2023 Up Despite BSD Hikes, Government Pilots Singles Shared Room Facilities, and More14 to 20 March 2023 New private home sales in Singapore, excluding Executive Condominiums (ECs), increased in February 2023, despite the hike in\u00a0Buyer\u2019s Stamp Duty (BSD)\u00a0for pricier residential properties. Meanwhile, the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2023\/03\/singapore-cbd-downtown-skyline.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/117880"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=117880"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/117880\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=117880"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=117880"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=117880"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}