Freehold shophouse in Geylang on the market for $18 mil

Based upon EdgeProp’s Landlens analytics device, there have been two current en bloc transactions around. They involved Advance Apartments on Lorong 25 Geylang, which transacted for $26.5 million ($ 1,270 psf) in December 2020, as well as Yuen Sing Mansion on Lorong 13 Geylang, which was sold for $15.2 million ($ 1,580 psf) in August 2020

The website is zoned for residential usage or institutional use with a gross plot proportion of 2.8, and also an allowed height of up to eight storeys, based on the latest Master Plan. According to the advertising and marketing representative, the shophouse is presently completely tenanted.

Sant Ritz location

The building rests on Tampines Ave 11 Condo a 5,583 sq ft site and has a flooring location of about 12,000 sq ft. Thus, the asking rate translates to a land price of $3,224 psf, or regarding $1,500 psf on the floor location.

The shophouse is close to Kallang and also Aljunied MRT Stations on the East-West Line. Neighboring mall consist of Paya Lebar Quarter, Paya Lebar Square, and SingPost Centre.

One of the most recent launch in the area was the 110-unit Rezi 24 on Lorong 24 Geylang, which was introduced to buy in March 2019.

An estate shophouse at 6 Lorong 19 Geylang has been put up for sale by means of expression of interest with a $18 million asking price. The residential or commercial property is marketed by Mount Everest Properties.