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Nestled on a 4,403 sq ft site zoned residential with commercial use on the first storey and a plot ratio of 3, the properties are occupied by a provision shop, coffeeshop and a general practice clinic on the ground floor.
A row of three shops with residential units above them has been launched for collective sale via private treaty, carrying an asking price of $26.5 million.
Marketing agent Jie Sheng Housing Agency revealed that the properties are situated at 2, 4 and 6 St George’s Road, featuring a gross floor area of 13,210 sq ft, reported The Business Times.
Nestled on a 4,403 sq ft site zoned residential with commercial use on the first storey and a plot ratio of 3, the properties are occupied by a provision shop, coffeeshop and a general practice clinic on the ground floor.
Jie Sheng Housing key executive officer Terence Ng said all owners have agreed to the en bloc sale.
The two properties at 2 and 4 St George’s Road are strata shops that feature four apartments above them with the 4A, 4B, 2A and 2B addresses. 6 St George’s Road, on the other hand, is a shophouse.
The buyer can build a new building with up to five storeys on the site.
Possibilities for redevelopment of the property include a 4,000 sq ft coffeeshop, restaurant or showroom on the ground floor, while the other storeys could be turned into staff accommodation, 12 apartments or a student hostel, subject to planning approval.
“It will also be ideal for company headquarters given its strategic location at the city fringe, proximity to an MRT station, and the freehold title. The value of the land could certainly appreciate over the years,” Ng said.
Situated at the junction of St George’s Road and Serangoon Road, the properties are also near Boon Keng MRT station.
The closing date for the shops’ en bloc sale is yet to be announced.
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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