Bookmark & Share
A row of seven shophouses along Sembawang Road have been put up for collective sale with an asking price of $24 million, or $814 psf per plot ratio, according to marketing agent Edmund Tie & Company (ET&Co).
Completed in the 1980s, the shophouses sit on a 24,340 sq ft plot, which is zoned residential with commercial at 1st storey and a gross plot ratio of 1.4 under the 2014 Master Plan.
Strategically located within Sembawang, 401 to 413 Sembawang Road enjoys a main road frontage as well as dual access from the main Sembawang Road and Jalan Lengkok Sembawang.
With nearby expressways including Seletar Expressway and the Central Expressway, the property is close to Northwoods Condominium, Greentree Montessori Children Hub, Euphony Gardens, Yishun Secondary School, Yishun Junior College and Jiemin Primary School.
“With the lack of private land sale and supply of land in this area, this is a rare chance for developers to create a freehold product in the mature Sembawang estate. We see a great opportunity for retailers to cater to residents in the Sembawang area and to enliven its retail scene,” said ET&Co senior director for investment advisory Tan Chun Ming.
“With the asking price of just $24 million, this site is an affordable choice for boutique-sized developers.”
The tender for the site will close on 30 July.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
Related Articles:
Row of four shophouses at Jalan Besar up for sale