999 Year Leasehold Serangoon Garden Shophouse Sale 108 Mil
A 999-year leasehold shophouse at 28/28A Maju Avenue in Serangoon Garden is now available for purchase through an expression of interest (EOI) exercise with an asking price of $10.8 million. This property is marketed by PropNex Shophouse Elites, under PropNex Realty.
The commercial shophouse has two storeys and is situated at the junction of Maju Avenue and Portchester Avenue in District 19. It sits on a 1,897 sq ft plot and offers a total built-up area of 3,500 sq ft, which includes the five-footway and an open terrace.
Based on the asking price, the property translates to approximately $3,086 per square foot on the built-up area. Additionally, the property will be sold with vacant possession.
The shophouse is situated within a well-established F&B and retail cluster, surrounded by a low-rise landed estate. It is in close proximity to Chomp Chomp Food Centre, Serangoon Gardens Market, Serangoon Gardens Country Club, and the International French School.
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According to Neo Beng Lee, director at PropNex Realty and the marketing agent for the property, the shophouse has a prominent location at a road junction and its situation within the landed estate ensures high footfall throughout the day. He adds that the ground floor can be used for an F&B takeaway establishment, a bar, a cloud kitchen, a childcare centre, or medical or veterinary clinics, subject to approvals. The top floor can be used for commercial schools or an enrichment centre.
With no additional buyer’s stamp duty (ABSD), no GST (on the sale), and a limited supply of only 69 commercial shophouses in Serangoon Garden, Neo expects strong interest from both institutional and private investors, both local and foreign alike.
The EOI for the property will close on October 1.