A Serangoon Garden shophouse is for sale with a price estimate of S$9.68 million

Aug 19, 2022

JKL Consultants, the property's marketing agent, announced on Friday that a two-story inner terrace shophouse on Serangoon Garden Way has been listed for sale at a suggested price of S$9.68 million (Aug 19).

The shophouse, estimated to have been constructed in 1960, has a 999-year lease from January 1, 1957 and is available for purchase by foreigners. Its land area is 1,503 square feet (sq ft), and its built-up area is 2,422 sq ft.

JKL stated that the shophouse has not been designated for preservation, allowing for greater flexibility in future designs and renovations. A medical clinic and a baking studio are its tenants, with a monthly rent of S$16,500 and a lease expiration date of 2025.

JKL reported that there were only three shophouse transactions in Serangoon Garden in 2021 and 2022, two of which involved the same property. "For the new owner, this shophouse is a collector's item and a suitable heirloom to be passed down to future generations," the article continued.