Properties for sale: Bugis shophouse and office building in Geylang
999-year leasehold conservation shophouse near Bugis MRT for sale at $44 mil
A 999-year leasehold conservation shophouse at the junction of North Bridge Road and Liang Seah Street has been put up for sale with an indicative price of $44 million. According to the sole marketing agent ERA Realty Network, the property is available through an expression of interest (EOI) exercise. The shophouse has a site area of 2,130 sq ft, which translates to a land rate of $20,657 psf. The property is zoned for commercial use with an allowable gross plot ratio of 4.2. The property will be sold with an existing tenant. It is located just opposite the Bugis MRT Station on the Downtown and East-West Lines, and the Bugis Junction shopping mall. Read also: Freehold shophouse on Beach Road to be auctioned from $9.38 mil Advertisement Advertisement Steven Tan, managing director of capital markets at ERA Singapore, says that the property currently operates below its allowable plot ratio. This means that the future owner can enhance the asset to maximise its plot ratio. The EOI exercise closes on Aug 28 at 3pm.
Freehold office building in Geylang selling for $17 mil
A seven-storey freehold office building at 19 Lorong 10 Geylang is on the market for $17 million. Currently under construction, the property is expected to be completed in 2Q2025. The property will be sold with vacant possession through an expression of interest (EOI) exercise managed by Savills Singapore. According to Savills, the property is zoned commercial/institution with a land area of 3,425 sq ft and a road reserve area of 1,608 sq ft. It has a gross floor area (GFA) of 6,080 sq ft and an estimated built-up area of 7,535 sq ft. The guide price translates to $2,796 psf on the GFA. The building features a full-glass curtain wall façade, column-free floor plates, a passenger lift to all floors, and a parking lot. The buyers of the property will potentially be able to influence the building’s finishes as well as acquire naming and signage rights to the property, says Nick Chan, senior manager of investment sales & capital markets at Savills Singapore. Read also: Shophouse sales value up 62% q-o-q in 1Q2024: PropNex Research Advertisement Advertisement He adds that incoming owners can also explore the potential to lease out any remaining space once their own occupation needs are met. According to EdgeProp’s LandLens, the property sits on a corner plot with an 11.6m frontage along Lorong 10 Geylang and 27.6m frontage facing Talma Road. The property enjoys easy access to the Kallang-Paya Lebar Expressway and major motorways nearby, such as Nicoll Highway and Mountbatten Road. The sale of the property is not subjected to the additional buyer’s stamp duty or seller’s stamp duty. Foreigners and companies are also eligible to purchase. The EOI exercise closes on Sept 5.