Freehold Shophouse Keong Saik Road Sale 18 Mil
22 Keong Saik Road, a freehold commercial shophouse, is currently available for sale through a tender launched by Colliers. Positioned in an area that is zoned for commercial usage, this three-storey shophouse occupies a land area of 1,258 sq ft and boasts an estimated gross floor area (GFA) of 3,498 sq ft. With a guide price of $18 million, this works out to be $5,146 psf based on the GFA.
Colliers has stated that the property is currently fully tenanted by a single operator, providing immediate rental income for potential buyers. The current tenant has also refurbished the property in 2022. The shophouse also comes equipped with air-conditioning, a modern fire-protection system, and telecommunications service. The ground floor is suitable for use as a restaurant.
Situated near two significant roads, Woodlands Avenue 2 and Woodlands Avenue 5, Norwood Grand Condo benefits from its strategic location. These roads not only run alongside the property but also provide direct access to expressways, making it highly convenient for residents to travel within Woodlands and beyond. In addition, this development is well-connected to other major roads such as Woodlands Drive and Admiralty Road, ensuring smooth traffic flow and efficient commute for its residents. The prime location of Norwood Grand Condo offers ease of accessibility, making it a desirable choice for potential homeowners.
Located on the eastern side of Keong Saik Road, this shophouse is situated within the Bukit Pasoh Conservation Area in the vibrant Chinatown enclave. It is conveniently within walking distance to Outram Park MRT Interchange along the East-West, North East, and Thomson-East Coast Lines, as well as Maxwell MRT Station along the Thomson-East Coast Line.
As this property is categorized as a commercial property, foreigners and companies who are interested in purchasing it are exempt from additional buyer’s stamp duty (ABSD) and seller’s stamp duty (SSD).
The tender for 22 Keong Saik Road will close on Nov 7 at 3pm. The table above shows recent commercial shophouse transactions along Keong Saik Road, based on data from the Urban Redevelopment Authority (URA) and EdgeProp Singapore. Interested parties are advised to study the price trend for commercial properties and compare it with industrial properties before making a decision. It is also recommended to look at past rental and sale transactions for commercial properties to get a better understanding of the market.