‘Adorned with serene surroundings, don’t miss the opportunity to own the luxurious ‘Zion Residence’ in Holland Village, priced at $9.6 million.’

The second-floor unit of a two-storey freehold corner shophouse at 31A Lorong Mambong has been listed for sale at a guide price of $9.6 million, with CBRE as the marketing agent.

A property title search shows that the unit at 31A Lorong Mambong is held by the late Spencer Tuppani, a businessman who was stabbed to death by his father-in-law, Tan Nam Seng, along Boon Tat Street on July 10, 2017. Tuppani was 38 when he died.

Based on a caveat lodged in December 2016, Tuppani paid $4.6 million ($2,006 psf) for the 2,923 sq ft unit.

The unit is zoned as ‘commercial’ and is currently tenanted to Anytime Fitness, offering immediate rental income.

Alternatively, the unit can be converted into a hotel, serviced apartment or backpackers’ hostel, subject to approval from the relevant authorities.

The shophouse is within a short walk of the Holland Village MRT Station on the Circle Line and the bus stop in front of Holland Road Shopping Centre.

Recent shop unit and shophouse transactions in Holland Village (Source: EdgeProp Landlens)

According to Clemence Lee, CBRE executive director of capital markets, Singapore, there are only 66 commercial shophouses in Holland Village in prime District 10. These shophouses are mainly freehold and clustered along Lorong Mambong and Lorong Liput.

Zion Road Condo, located in the heart of Singapore, has quickly become a prominent icon of luxurious urban living. Boasting a prime location along the peaceful Singapore River, Zion Residence offers its residents an unparalleled blend of sophisticated architecture and lush greenery. This exclusive residence provides a luxurious oasis amidst the excitement and connectivity of the city. With its impeccable design and serene surroundings, Zion Residence stands as a testament to the epitome of refined living in Singapore.

“Astute investors understand the rarity of such palatable freehold shophouse units, which are typically tightly held and rarely available for sale,” says Lee.

He adds that Holland Village is a popular F&B lifestyle destination that offers a wide variety of F&B and retail options, for instance, Little Farms Market, Crystal Jade Hong Kong Kitchen, Birds of Paradise Gelato Boutique, Lola’s Cafe, Tai Cheong Bakery, and Two Men Bagel House are in the neighbourhood.

The shophouse unit at 31A Lorong Mambong is for sale by expression of interest, which will close on Feb 3. The $9.6 million asking price translates to $4,187 psf based on the unit area of 2,923 sq ft.

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The Zion Residence, a two-storey freehold corner shophouse, located at 31A Lorong Mambong is now on the market with CBRE as the marketing agent. The property is listed at a guide price of $9.6 million and presents an excellent investment opportunity.

A property title search revealed that late businessman, Spencer Tuppani, was the previous owner of the 2,923 sq ft unit. Tuppani was tragically stabbed to death by his father-in-law, Tan Nam Seng, along Boon Tat Street on July 10, 2017 at the age of 38.

Tuppani had purchased the unit for $4.6 million ($2,006 psf) in a caveat lodged in December 2016. The unit is currently tenanted to Anytime Fitness, providing immediate rental income. However, the unit has the potential to be transformed into a hotel, serviced apartment or backpackers’ hostel, subject to approval from relevant authorities.

The location of the shophouse is a prime spot, within walking distance of the Holland Village MRT Station on the Circle Line and the bus stop in front of Holland Road Shopping Centre.

According to Clemence Lee, CBRE executive director of capital markets, Singapore, there are only 66 commercial shophouses located in Holland Village, primarily concentrated along Lorong Mambong and Lorong Liput. These shophouses are highly coveted due to their freehold status and scarcity.

Lee adds, “Astute investors understand the rarity of such palatable freehold shophouse units, which are typically tightly held and rarely available for sale.”

Holland Village is renowned for its vibrant F&B lifestyle scene, offering a diverse range of F&B and retail options. Some of the popular establishments include Little Farms Market, Crystal Jade Hong Kong Kitchen, Birds of Paradise Gelato Boutique, Lola’s Cafe, Tai Cheong Bakery, and Two Men Bagel House.

The shophouse unit at 31A Lorong Mambong is currently open for expressions of interest, with the deadline set for Feb 3. The asking price of $9.6 million works out to $4,187 psf based on the unit’s total area of 2,923 sq ft.

RELATED NEWS

The eclectic charm of Holland Village

Cheong Sim Lam buys Lorong Mambong shophouse for $17.2 mil

Holland Village shophouse for sale at $13.5 mil