CBRE, as the exclusive marketing agent, is pleased to offer for sale an iconic row of three adjoining 2-storey conservation shophouses located at 489, 491 and 493 Geylang Road. Commanding an impressive dual road frontage of 44-metres along Geylang Road and Lorong 27 Geylang collectively, the shophouses enjoy high visibility and footfall throughout the day.

The sale will be conducted through an Expression of Interest exercise, which will close on 19 April 2023, Wednesday at 3pm.

Sitting at the corner where Geylang Road and Lorong 27 Geylang intersects, the shophouses have a combined land area of 3,830 sq ft and a total floor area of approximately 7,388 sq ft. They are currently fully tenanted.

To be sold collectively, the shophouses have an indicative guide price of S$23 million, or approximately S$3,113 psf on the total floor area. The subject property sits on a site that is zoned for ‘Commercial’ use under the 2019 Master Plan and both locals and foreigners are eligible to purchase the subject property, with no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) imposed on the purchase.

Clemence Lee, Executive Director of Capital Markets, Singapore at CBRE, says, “Astute investors understand the rarity of suburban adjoining shophouses that enjoy superior location attributes and building specifications. With the shophouses’ premium characteristics such as its corner land plot, city fringe location, main street frontage, highly sought-after approvals and underutilized plot ratio, we are confident that it will draw strong interest from a wide pool of buyers that include corporate investors, owner-occupiers, small to mid-sized developers and high-net-worth-individuals. What’s more, the current tenant mix comprising an F&B and entertainment establishment, are highly favoured amongst investors, given their ability to command better rents. Also, the scarcity of approved karaoke lounges and the fact that such approvals are unlikely to be granted these days, make the shophouses even more attractive.”

To request a copy of the Information Memorandum please contact one of the marketing agents via the contact details below.