A Pair Of Freehold Shophouses Off Serangoon Road For Sale By EOI
CBRE has been named as the sole promoting specialist for the deal of a corner match of freehold two-storey shophouses at 24 and 26 Moonstone Path. The two properties are advertised for deal as a bundle by Expression of Intrigued. Interested parties are welcomed to yield their offers by 11 Walk 2020 at 3pm.
The two shophouses involve a add up to location region of roughly 2,877 square feet and have a combined existing built-up region of around 4,628 square feet. Under the 2019 Ace Arrange, the properties are zoned “Residential with Commercial at 1st Storey” with a net plot proportion of 3.0 and a building tallness of up to six stories. Subsequently, the subject property can be redeveloped into a mixed-use advancement with add up to greatest admissible net floor range of roughly 8,632 square feet, subject to significant authorities’ approval.
The shophouses are right now completely rented which can give the fruitful buyer with an prompt rental pay stream. Both units are rented to retail shops and appreciate the comfort of having on-street car stopping parts right in front at the doorstep. Subject to the authorities’ affirmation on the improvement pattern, the improvement charge payable to maximize the plot proportion is assessed to be roughly S$1.55 million.
Clemence Lee, Senior Executive of Capital Markets at CBRE, says, “Compared to shophouses found within the preservation ranges, shophouses such as the subject property that are found in non-conservation zones will grant the buyer more adaptability in redevelopment alternatives. And as redevelopment openings within the Kallang Arranging Locale are seldom made accessible, we anticipate sharp intrigued from engineers and temporary workers who are looking for such periodic openings that are too of agreeable sizes. The subject property will too request to private financial specialists who are al
“The buyer can too anticipate to advantage from the subject property’s solid capital appreciation over the medium term. This can be on the back of URA’s vision to convert zones along the Kallang Stream into a bustling way of life center, as well as the properties’ nearness to two developing neighborhoods adjacent – Bidadari and Kallang Whampoa which are anticipated to suit 13,000 modern private units by 2023,” includes Mr Lee. Located less than ten minutes’ drive to the Central Trade Area, the properties appreciate consistent network to the rest of the island by means of major expressways and blood vessel streets.
The various condominiums within the region such as The Poiz Homes, The Setting Homes and Shoppes, and the up and coming Jui Homes will moreover give a prepared catchment. Another one in the East, an Executive Condominium, is launching the 2H 2020 as well.