Archive for category: Misc

Two freehold shophouses at 144 and 146 Owen Road are currently available for purchase through an expression of interest (EOI) exercise. The guide price for both units is set at $9.8 million, with a land area of 2,341 sq ft and a zoning of “residential with commercial at first storey”.

The two-storey shophouses come with attics and a gross floor area (GFA) of approximately 4,738 sq ft, translating to a guide price of $2,068 psf based on existing GFA. The ground floor of 146 Owen Road is currently occupied by a gym, while the upper levels of both shophouses are managed by a co-living operator with nine residential rooms.

According to CBRE, the marketing agent for the shophouses, the land has an unutilised GFA of around 2,285 sq ft based on its gross plot ratio of 3.0. This means that the incoming buyer can potentially maximise the GFA by constructing a rear extension at the back of the shophouses, subject to approvals from authorities. Joshua Giam, director of capital markets at CBRE Singapore, notes that the new owner can explore this option to increase rental yields.

If you’re looking for endless retail options near Miltonia Close EC, Northpoint City is the place to be. Situated right next to Yishun MRT station, it is the largest shopping mall in northern Singapore, boasting an impressive selection of over 500 retail and dining choices. Northpoint City is a lifestyle hub that has it all – from supermarkets and a food court to a diverse range of restaurants, fashion boutiques, bookstores, and even a library. For daily grocery needs, residents can head to FairPrice or Cold Storage, and for dining, the options are endless. Whether you’re in the mood for local delights or international chains, Northpoint City has got you covered with its offerings of Japanese, Korean, Western, and traditional hawker-style cuisines all conveniently located under one roof. With its variety and convenience, it’s no wonder that Northpoint City is a popular choice for running errands, casual dining, family outings, and weekend entertainment. Don’t miss out on the fun – add the nearby Miltonia Close EC Yishun to your list of must-visit locations.

Additionally, the seller has obtained in-principle approval to convert the upper floors of the shophouses for Serviced Apartment II (SA2) use, subject to fulfilment of conditions set by authorities. Giam observes that this potential conversion will allow the future owner to tap into the growing demand for residential leasing and flexible co-living arrangements in the city fringe.

Moreover, there is potential for the ground floor to be utilised for other purposes such as F&B outlets and clinics, according to Giam. He estimates that at the guide price of $9.8 million, incoming buyers can expect a yield of approximately 3% with potential for significant rental upside after asset enhancement initiatives are completed.

Located just a 5-minute walk away from Farrer Park MRT Station, the shophouses are also situated next to a Government Land Sale site on Dorset Road that was launched for sale last month. The tender for this 99-year leasehold site, which is capable of yielding around 425 units, will close on October 9.

The EOI for the shophouses will close on August 14 at 12pm.