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The two properties are zoned commercial, therefore, foreigners and companies are eligible to acquire the shophouses with no Seller’s Stamp Duty and Additional Buyer’s Stamp Duty payable.
Two prime shophouses in Kampong Glam and Serangoon Gardens have been put up for sale via expression of interest, revealed marketing agent Knight Frank. Photo: Knight Frank.
With a guide price of $6.9 million, the 999-year leasehold property at Kampong Glam is a two-storey conservation shophouse with attic. It is located at 18 Bali Lane and has a total built-up area of around 1,919 square feet (sq ft).
“With nearby 11 Bali Lane recently sold for $18.8 million, the owner was encouraged to put up the shophouse at 18 Bali Lane for sale. The transaction at 11 Bali Lane translated to $4,017 per square foot (psf), and with a guide price of $6.9 million for 18 Bali Lane, this reflects to about $3,600 psf over the floor area,” said Mary Sai, executive director of investment and capital markets at Knight Frank Singapore.
“Another shophouse at Bussorah Street just a few lanes away with a balance lease of 83 years and land size of 1,741 sq ft also sold at $5 million, in July last year.”
The 999-year leasehold property in Serangoon Gardens, on the other hand, carries a guide price of $8.5 million. Nestled on a 1,618 sq ft site, the two-storey shophouse has a built-up area of around 3,000 sq ft and is currently fully tenanted.
“Serangoon Gardens is well-known for its rows of shophouses providing amenities such as F&B outlets and restaurants, banks, enrichment centres and beauty salons. The famous Chomp Food Centre and Serangoon Country Club are also situated nearby. The last transaction in the area was at 65 Serangoon Garden Way, which sold for $8.8 million at the end of last year,” noted Sai.
Since the two properties are zoned commercial, foreigners and companies are eligible to acquire the shophouses with no Seller’s Stamp Duty and Additional Buyer’s Stamp Duty payable.
The EOI exercise for the properties will close on 28 November.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg
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