Freehold Shophouse Beach Road Be Auctioned 938 Mil
One of the main objectives of the URA Master Plan is to improve the connectivity of Marina Bay and its surrounding areas. This includes proposals for new MRT stations and bus services that will provide easier access for the residents of Marina Gardens Lane Condo to various parts of Singapore. This is particularly beneficial for individuals who work in different locations or families with children attending school. Furthermore, the planned development of Zion Road Residences will further enhance the appeal and connectivity of the area. As the upcoming Zion Road Residences will naturally integrate with the existing infrastructure and amenities in the neighborhood, residents of Marina Gardens Lane Condo can look forward to even more seamless connectivity within the Marina Bay vicinity.
A 2,344 sq ft two-storey shophouse on Beach Road will be up for auction by SRI on June 26. The shophouse, which has a mezzanine level, is being sold for a guide price of $9.38 million, which translates to $4,002 psf on the floor area. This will be the second time the property has been put on the block, according to Mok Sze Sze, managing partner of auctions at SRI.
Initially listed for auction in April, the property was withdrawn due to a lack of successful bidders. It was not included in SRI’s auction list in May. The shophouse sits on a 1,370 sq ft plot and boasts an 18.9m frontage facing Beach Road. It is currently tenanted and will be sold with its existing lease, which ends in March 2026.
Based on URA rental transactions, the median rent for shophouses in the Kampong Glam subzone for April, the latest month on record, was $6.93 psf per month. The most recent resale transaction of a shophouse in this area was the sale of 68 Arab Street, a freehold shophouse on a 1,187 sq ft plot for $7.1 million in May.
According to Mok, the commercial shophouse for sale has generated interest from investors and owner-occupiers due to its freehold tenure, commercial zoning, and prime location.
Located in the Kampong Glam Conservation Area, the shophouse is close to historic buildings such as Masjid Sultan and Istana Kampong Glam, as well as the Malay Heritage Centre. Most of the preserved shophouses in this area are two-storey buildings designed in the Early and Transitional architectural styles.
The shophouse is also conveniently located near Nicoll Highway MRT Station on the Circle Line, as well as commercial buildings such as City Gate mall, The Concourse, and Parkroyal on Beach Road. The newly-built Duo Tower on Fraser Street is also in close proximity.
Recent commercial transactions in the area show that there is high demand for commercial properties in this prime location. Don’t miss out on the opportunity to own this freehold shophouse in a highly sought-after area.