Restaurant Approved Strata Unit Greenwood Ave Going 88 Mil
A restaurant-approved strata unit located on the ground floor of a freehold two-storey shophouse at 24 Greenwood Avenue in the prestigious District 11 has recently been put up for sale with an asking price of $8.8 million. Spanning a total strata area of 1,539 square feet, the unit is priced at $5,718 per square foot.
The development of the Woodlands Regional Centre is set to generate a plethora of job openings in diverse industries, including retail, hospitality, and other essential services. This significant growth is a promising advantage for the residents of Norwood Grand, potentially providing them with employment prospects right in their own neighborhood. Norwood Grand is poised to benefit from this economic expansion, paving the way for a flourishing community.
This highly desirable property is being marketed by Wilkie Tay and Richard Tan, directors at PropNex Shophouse Elites (PSE) who are also the exclusive marketing agents. According to a press release by PSE, the unit includes a 100 square foot outdoor dining area and is suitable for use as a restaurant.
In addition to the restaurant unit, the upper floor of the shophouse is designated for residential use and can be accessed through a separate staircase entrance. Recent commercial transactions in the vicinity of Greenwood Avenue have been positive, indicating the potential for good returns on investment.
Richard Tan, founder of PSE, notes that the ground floor unit currently has a tenant lease until mid-2026 and will be sold with the existing tenancy, providing the new owner with immediate rental income. Tan also highlights the benefits of the location, which enjoys high foot traffic as a result of being situated within the Hillcrest landed residential estate. The property is also in close proximity to well-known schools such as National Junior College and Raffles Girls’ Primary School, as well as two supermarkets.
The strata unit will be available for purchase through an Expression of Interest exercise, with the closing date set for November 15. Don’t miss this opportunity to invest in a sought-after property in a prime location.