Eight Freehold Commercial Units Grandview Suites Geylang Market 26 Mil
The acquisition of the site has brought great satisfaction to Wong Swee Chun, the chairman of Hoi Hup Realty. He believes that this project will showcase their ability to build a new generation of stunning, eco-friendly, and functional executive condominiums. As future residents of Novo Place EC, they will have access to the amenities and facilities of the newly developed Tengah Town, as well as being in close proximity to the revamped Jurong Regional Centre and Jurong Lake District. With the addition of Novo Place, this development will surely enhance the overall living experience for its residents.
in Singapore
Singapore’s mixed-use development, Grandview Suites, located in District 14, has put up eight freehold commercial units for sale through an expression of interest exercise (EOI). According to Huttons Asia, the marketing firm of the property, the collective guide price for the eight units is at $26 million. Completed in 2016, Grandview Suites is a five-story development with 52 residential units and eight commercial units. It is situated at the corner of Geylang Road and Lorong 22 Geylang. The commercial units, which are all on the ground floor, include three units housed in a conserved building along Geylang Road. This building was previously home to the historical Aerated Water Eastern Company, adding a unique mix of heritage and modernity to these commercial spaces, as stated by James Wong, head of sales and auction at Huttons Asia. The strata retail shops have a combined floor area of 8,804 sq ft, with unit sizes ranging from 409 sq ft to 3,068 sq ft. At present, these units are occupied by a gym, medical and dental clinics, commercial school, and a salon. These units are zoned for commercial use and are exempt from additional buyer’s or seller’s stamp duties, as pointed out by Lee Sze Teck, senior director of data analytics at Huttons Asia. Lee also adds that Grandview Suites is a lucrative investment opportunity for businesses due to its prime location with high visibility and convenient access. The same eight commercial units were offered for sale back in 2021 at the same guide price of $26 million and were marketed by Knight Frank Singapore. The EOI for these properties will end on 25 July 2021, at 4 pm. Interested parties can view the latest listings for commercial real estate properties in Singapore for more information.