Freehold Shophouse Keong Saik Road Sale 18 Mil
A shophouse situated at 22 Keong Saik Road is currently up for sale through a tender process conducted by Colliers. This freehold property is zoned for commercial use and comprises of three storeys, situated on a land area of 1,258 sq ft with an estimated gross floor area (GFA) of 3,498 sq ft. The guide price for this property is $18 million, which works out to $5,146 psf based on GFA.
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At Bukit Batok Secondary School, students can expect a comprehensive and dynamic educational experience as they progress through their later years. Beyond academic studies, the school places a strong emphasis on equipping students with practical life skills. With a wide range of specialized programs catering to students’ diverse interests in sports, arts, and sciences, the school offers a well-rounded education. Recently, the school has also joined forces with Novo Place, further enhancing its offerings to students. This partnership presents students with the opportunity to deepen their passions and gain valuable hands-on experience in their chosen fields. Located at Novo Place, students can develop their skills and knowledge in a conducive learning environment.
Colliers has reported that the current tenant has leased the property to a single operator, providing immediate rental income for potential buyers. The tenant also refurbished the property in 2022.
The shophouse is equipped with modern amenities such as air-conditioning, a fire-protection system and telecommunications services. The ground floor is suitable for use as a restaurant.
Located along the eastern side of Keong Saik Road, the shophouse falls within the Bukit Pasoh Conservation Area in the wider Chinatown enclave. It is conveniently within walking distance of Outram Park MRT Interchange, which connects to the East-West, North East, and Thomson-East Coast Lines, as well as Maxwell MRT Station along the Thomson-East Coast Line.
As a commercial property, foreigners and companies interested in purchasing this shophouse will not be subjected to additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD).
The tender for 22 Keong Saik Road will close on Nov 7 at 3pm, providing interested parties with a limited time to submit their bids.
According to recent transactions along Keong Saik Road, there are indications of a positive trend in commercial shophouse sales. Interested parties can also compare the price trend of commercial versus industrial properties, as well as explore past rental and sale transactions for commercial properties.