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A row of five adjoining refurbished shophouses (pictured) at Teck Chye Terrace was sold via auction on Thursday (22 January) for S$14.63 million, marketing agent Colliers International confirmed in response to an inquiry by CommercialGuru following the end of the said auction yesterday evening.
The freehold shophouses were auctioned as an entirety at an indicative price of S$13 million. With S$1.63 million on top of the indicative price, the sale price works out to around S$1,200 per sq ft. based on the shophouses’ total floor area is approximately 12,163 sq ft.
Situated at the junction of Upper Serangoon Road and Boundary Road, the subject properties sit on a land area of approximately 7,861 sq ft.
Zoned for residential use under the 2014 Master Plan, the first storeys of all five units have obtained permanent approval for “Shop” use, and each shophouse has a side staircase for access to the upper storey.
Image source: Colliers International
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg.
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