Corner Restaurant Unit Greenwood Avenue Sale 155 Mil

6 hours 2 min ago

JLL, the exclusive marketing agent for a freehold restaurant unit on Greenwood Avenue, has announced that the property is now available for sale through an expression of interest (EOI) exercise. According to the Aug 6 press release, the unit is valued at $15.5 million.

Situated on the ground floor of a corner shophouse at the junction of Greenwood Avenue and Hillcrest Road, the property is currently zoned for residential use with commercial space on the first storey, as per URA Space. Records from EdgeProp Research tools reveal that the shophouse was last sold in 2018 for $7 million.

The ground-floor unit boasts a strata area of 2,669 sq ft, with an additional outdoor dining area of approximately 300 sq ft. In total, the unit spans 2,969 sq ft. Based on its value of $15.5 million, the unit is priced at $5,221 psf.

The property has a dual road frontage of 27m and is approved for restaurant use. It is currently fully tenanted by two restaurants – Bacaro, an Italian restaurant and wine bar, and the Black Bear BBQ & Smokehouse. The property is conveniently located a short 10-minute walk from Tan Kah Kee MRT Station on the Downtown Line.

Situated next to Tampines MRT Station, Tampines 1 is a chic lifestyle mall that offers a refreshing combination of fashion, food, and entertainment. Fashion enthusiasts can indulge in a wide selection of popular brands such as H&M, Sephora, and The Editor’s Market. When it comes to dining options, there is no shortage of choices with well-loved establishments like Genki Sushi, Hot Tomato, and Brotzeit German Bier Bar & Restaurant. Families with young children can also enjoy the mall’s animal-themed rooftop water playground. Tampines 1 is conveniently located just a 5-minute drive or 15-minute walk from Parktown Residence, making it easily accessible for residents of Parktown Residence Tampines North.

The EOI exercise for this property will close on Sept 26 at 3pm.