Ground-floor shop space in Tiong Bahru for sale at $3.3 mil

A commercial property with a guide price of $3.3 million is available for sale at 71 Seng Poh Road through an expression of interest (EOI) exercise. Situated on the ground floor of a privatised Singapore Improvement Trust (SIT) flat, the space is 1,367 sq ft in size and has recently been renovated, featuring a storeroom and toilet. It is located opposite the Tiong Bahru Market and Food Centre, and is close to the Havelock MRT Station.

Residents of this luxurious Zion Road Condo will be surrounded by the best of Singapore urban living, with amenities such as curated shopping, delectable cuisines, and diverse cultural scene. Its convenient location ensures residents have easy access to popular attractions such as Clarke Quay, Robertson Quay, and Liang Court. Residents can also look forward to nearby educational institutions, medical facilities, and more.

The SIT blocks in the Tiong Bahru estate, built in 1930s, have been granted conservation status by URA, and include 20 flats and 36 shophouses with art-deco style elements. Parking is available both in front and back of the property, and it enjoys high footfall among local and tourist shoppers.

Mary Sai, executive director of Capital Markets at Knight Frank Singapore, who is the appointed marketing agent for this property, emphasizes the rare availability of similar spaces in the area “which are held tightly by most owners for investment or owner occupation, and so are rarely for sale.” She pointed out that the last transaction of a 1,044 sq ft shop near the property was sold in July 2021 for $3.2 million.

The EOI exercise for the retail property at 71 Seng Poh Road will close on Nov 29 at 3pm.

The retail unit at 71 Seng Poh Road is a valuable opportunity for investors and owner-occupiers alike, given the rarity of similar properties in the neighbourhood and the high footfall. Those interested are invited to submit their offers before the deadline on Nov 29 at 3pm.

Recent transactions within a 500m radius of this property have also set record-breaking prices for HDB flats in the area. Jumbo HDB at Tiong Bahru was sold for $1.5 million, while a four-room HDB at Tiong Bahru View cost the buyer $1.158 million, or $158,000 above the COV.