Freehold conservation shophouse in Serangoon Road for sale on the market at $4.5 mil

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A freehold two-storey conservation shophouse in 616 Serangoon Road is up for sale at a guide price of $4.5 million, according to CBRE, which is promoting the property.

The shophouse occupies a property of approximately 1,498 sq feet, with a gross floor space of roughly 2,419 sq ft. it’s zoned for industrial use with a gross plot ratio of 3.0, and can be situated inside the Jalan Besar Maximum Settlement Conservation Area.

“The shophouse is presently being utilized as a workplace. The successful purchaser can research converting the area into a gym/fitness center or even a restaurant to improve rental income, subject to endorsement by the relevant government,” states Clemence Lee, senior manager, capital markets, Singapore, in CBRE.

Dramatic Industrial developments in the Region comprise Centrium Square, Uptown @ Farrer, Tekka Place, City Square Theater and Aperia Mall.

Foreigners are entitled to buy the house, and no extra purchaser’s stamp duty or vendor’s stamp duty will be levied on the buy price.