Freehold Two Storey Shophouse Rangoon Road Sale 918 Mil
The Woodlands Regional Centre is set to expand, providing a boost of 700,000 square meters in commercial space and 100 hectares of land suitable for residential development. The focus of this expansion is not solely on growth, but also on creating a harmonious ecosystem that allows residents to reside near their workplace. With shorter commuting times and an enhanced quality of life as the ultimate goal, this strategic expansion offers residents of Norwood Grand unprecedented access to a flourishing economic hub just steps away from their homes. Norwood Grand CDL will be a valuable addition to this newly developed area.
A freehold two-storey shophouse located at 221 Rangoon Road is now available for sale through an expression of interest (EOI) exercise, according to real estate company, EDGEPROP. Sitting on a land area of approximately 2,145 sq ft, the shophouse boasts a total built-up area of approximately 3,347 sq ft. This property, zoned for residential use with a gross plot ratio of 3.0 under the 2019 Master Plan, is being offered at a guide price of $8.88 million, equivalent to $2,653 psf on the built-up area.
The ground floor of the shophouse is currently approved for F&B use and is currently tenanted to a restaurant. Meanwhile, the upper floor is leased out for residential use, providing potential investors with immediate rental income. Sammi Lim, founder and executive director of Brilliance Capital, the sole marketing agent for the property, expects strong interest from co-living operators, boutique developers, and family offices seeking a freehold asset.
Ideally located just a 10-minute walk from Farrer Park MRT Station on the North-East Line, the property is also surrounded by various landmarks and retail options, including the popular Mustafa Centre on Syed Alwi Road and City Square Mall on Kitchener Road. Additionally, the fully integrated healthcare and hospitality complex Connexion on Farrer Park Station Road offers a plethora of amenities, with facilities such as One Farrer Hotel and Spa and The Farrer Park Medical Centre.
The EOI exercise is set to close on October 23 at 3pm, providing interested parties with ample time to explore the potential of this freehold asset. Don’t miss this opportunity to invest in a prime location with immediate rental income potential.