Seven Freehold Conservation Shophouses Geylang Saie 65 Mil
Huttons Asia, the exclusive marketing agent for a row of seven conservation shophouses at 284-296 Geylang Road, has put the properties up for sale by expression of interest (EOI) with a guide price of $65 million. These shophouses, located within the Geylang Conservation area, are considered prime real estate due to their strategic location and potential for future development.
Sitting on a combined freehold land area of 10,520 sq ft, the seven 2-storey shophouses have a total built-up area of 21,000 sq ft. This works out to a guide price of $3,095 psf based on the total built-up area. In 2021, the properties received provisional permission from the Urban Redevelopment Authority (URA) to add an attic level for all seven shophouses, potentially increasing the gross floor area.
One of the shophouses, located at the corner of Geylang Road and Lorong 14 Geylang, has a permanent approval for F&B use. Situated within close proximity to amenities such as the Aljunied MRT station (East-West Line) and the Singapore Sports Hub, this corner shophouse offers great potential for businesses.
Senior director of data analytics at Huttons Asia, Lee Sze Teck, shared that the shophouses are zoned for commercial use and are therefore open to foreigners. He also mentioned that with falling interest rates, there has been increased interest in shophouses in the third quarter of 2025.
The EOI exercise will close on November 20, at 4pm. Investors and business owners alike can look forward to owning a piece of prime real estate in the bustling Geylang area. Other notable shophouses in the vicinity include the Ann Siang Road shophouse, which is currently up for sale at $21 million, and the three freehold shophouses along Geylang Road that were recently sold for $18.68 million by Shincon Industrial. It seems that more foreign private wealth is being diverted into commercial shophouses as cooling measures in the property market take effect.
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