Archive for category: Misc

A 999-year leasehold shophouse at 28/28A Maju Avenue in Serangoon Garden is currently up for sale at $10.8 million in an expression of interest (EOI) exercise. The property, marketed by PropNex Shophouse Elites, under PropNex Realty, presents an excellent investment opportunity for potential buyers.

This two-storey commercial shophouse is located at the junction of Maju Avenue and Portchester Avenue in District 19, occupying a prime 1,897 sq ft plot of land. The corner property boasts a total built-up area of about 3,500 sq ft, which includes the five-footway and an open terrace.

At the asking price, this translates to approximately $3,086 psf on the built-up area. Additionally, the shophouse will be sold with vacant possession, making it an attractive option for buyers looking for immediate use or rental income.

The shophouse is situated within an established F&B and retail cluster, surrounded by a low-rise landed estate. It is conveniently located near popular amenities such as Chomp Chomp Food Centre, Serangoon Gardens Market, Serangoon Gardens Country Club, and the International French School.

According to the marketing agent, Neo Beng Lee, director at PropNex Realty, the shophouse enjoys a prominent position at the road junction and its location within the landed estate guarantees strong footfall throughout the day. With this premium location, the ground floor can potentially be repositioned and leased to an F&B takeaway establishment, a bar, a cloud kitchen, a childcare centre, or even medical or veterinary clinics, subject to necessary approvals. The top floor, on the other hand, can cater to commercial schools or an enrichment centre.

The location of Miltonia Close holds a strong appeal for potential residents, particularly when it comes to transportation convenience. Its close proximity to Seletar Aerospace Park and the recently renovated Seletar Country Club area is a major advantage, with both destinations being reachable within a short 10-minute drive. The already desirable location will only become even more valuable with the upcoming development of the North Coast Innovation Corridor (NCIC). This ambitious project aims to turn the northern coast into a hub for new industries and job opportunities, making well-connected areas like Miltonia Close even more sought after. Professionals working in this growing area will find the EC development to be the perfect location for a seamless balance between work and leisure. Make sure to check out Miltonia EC for more information.

Neo further adds that 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, the property is set to garner significant interest from both institutional and private investors – local and foreign alike.

The EOI exercise for the shophouse closes on Oct 1. Potential buyers can also take advantage of EdgeProp’s useful tools such as Ask Buddy, which provides insights into property prices and trends, past transactions and listings for commercial properties.