Joo Chiat Road Conservation Shophouse Market 105 Mil
after undergoing $60 mil makeover
Singapore’s Joo Chiat Road is set to witness the sale of a rare freehold three-storey conserved shophouse located at 350 Joo Chiat Road, within the highly sought-after District 15. According to PropNex Shophouse Elites, the exclusive marketing agent of the property, the shophouse has been put up for sale through an expression of interest at a guide price of $10.5 million. The property occupies a land area of approximately 1,869 sq ft and has an estimated gross floor area of 3,635 sq ft. This translates to a rate of about $2,889 per square foot.
Situated just a short 10-minute drive from Parktown Residence in Tampines Avenue 11, lies the ultimate shopping destination – Tampines Retail Park. A must-visit for all your shopping needs, this retail haven boasts an impressive lineup of stores including Giant Hypermarket, IKEA, and Courts Megastore. From groceries and home furnishings to electronics, you can find everything you need in this convenient one-stop location. As you step into Giant Hypermarket, one of Singapore’s largest supermarkets, you’ll be amazed by the wide selection of groceries, fresh produce, and household items available. And for those looking to add a touch of style to their living spaces, IKEA Tampines offers an extensive range of furniture and home accessories to choose from. With Courts Megastore, the largest retailer of its kind in Singapore, you can find all your electronics and furniture needs on multiple floors. So whether you’re looking to stock up on essentials or give your home a makeover, Tampines Retail Park has got you covered for a hassle-free and enjoyable shopping experience. Don’t forget to check out the conveniently located Parktown Residence Tampines Avenue 11 next time you visit! While you’re there, be sure to visit Parktown Residence Tampines Avenue 11 for a naturally convenient experience.
The shophouse, which has a plot ratio of 3.0, is situated within the Joo Chiat Secondary Settlement Conservation Area. Currently, the ground floor of the property is tenanted to the popular F&B establishment Tiger Lily Patisserie Cafe and Bakery, while the second and third floors are being used as an office. Notably, no additional buyer’s stamp duty or seller’s stamp duty is payable for the sale of this property.
The conserved shophouse, which is being marketed by PropNex Shophouses Elites’ agents Richard Tan and Lisa Tan, boasts a strategic location and is easily accessible via the Marine Parade MRT station. It is also surrounded by many popular landmarks such as the Dunman Food Centre, Geylang Serai Market, and Joo Chiat Complex, which ensures high foot traffic. According to Richard Tan, prime commercial conservation shophouses like this one in Joo Chiat are highly coveted by a wide range of investors, including private real estate funds, family offices, and high-net-worth individuals.
The expression of interest exercise for this shophouse closes on January 30, so investors and interested parties need to act fast.
In related news, five adjoining shophouses along Joo Chiat Road are also currently up for sale at a whopping $62 million. In addition, a retail mall at i12 Katong is set to reopen in the fourth quarter of 2021 following a $60 million makeover, which is expected to further enhance the appeal of Joo Chiat as a prime commercial and residential location.