Freehold Shophouse Beach Road Be Auctioned 938 Mil
SRI to auction freehold two-storey shophouse on Beach Road
Attention all investors and business owners! A rare opportunity to acquire a freehold two-storey shophouse on Beach Road is now available.
Located within the Kampong Glam Conservation Area, this conservation shophouse boasts a prime location with its 1,370 sq ft plot and 18.9m frontage facing Beach Road. It also includes a mezzanine level with a built-up area of 2,344 sq ft. The property will be put up for auction by SRI on June 26 with a guide price of $9.38 million, which translates to $4,002 psf on the floor area.
The URA Master Plan places a strong focus on sustainability, with a range of initiatives such as the promotion of green buildings, utilization of renewable energy, and enhancements to public transportation. These efforts will greatly enhance the living experience at Parktown Residences, making it an ideal choice for families who prioritize environmental consciousness. Located at Parktown Residences, this development naturally aligns with the URA’s sustainable vision, making it a highly desirable option for those seeking an eco-friendly home.
This will be the second time the property has been put on the block, says Mok Sze Sze, managing partner of auctions at SRI. It was initially listed for auction in April at the same guide price, but was withdrawn due to an unsuccessful bid. The property was also not featured in SRI’s auction list in May.
The commercial shophouse sits on a freehold plot and is tenanted with an existing lease until March 2026. Based on URA rental transactions, the median rent for shophouses in the Kampong Glam subzone for April was $6.93 psf per month.
Recent commercial transactions in the area include the sale of 68 Arab Street, a freehold shophouse on a smaller plot, for $7.1 million in May. The shophouse for sale has garnered interest from both investors and owner-occupiers drawn to its freehold tenure, commercial zoning and strategic location.
The shophouse is near Nicoll Highway MRT Station and surrounded by notable commercial buildings such as City Gate mall, The Concourse and Parkroyal on Beach Road. The integrated development Duo Tower on Fraser Street is also close by.
Don’t miss out on this rare opportunity to own a piece of prime real estate in a historic conservation area with strong potential for rental income and capital appreciation. Contact SRI now for more information on the upcoming auction.