Two-storey 999-year leasehold shophouse at Serangoon Gardens up for sale at $9.68 mil

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Foreigners are eligible to purchase the property too.

The freehold shophouse is up for sale with tenancy, and is currently leased to a medical clinic and a bakery has been put up for sale with tenancy at a guide price of $9.68 million . JKL Consultants is the appointed exclusive marketing agent for the property.According to JKL Consultants, the shophouse was built in 1960 and has a tenure of 999 years starting from 1957.

The iconic Chomp Chomp food centre is a stone’s throw away and other popular eateries nearbly include the Chong Qing Grilled Fish, Tiong Bahru Bakery and Toastbox. The Serangoon Gardens Country Club is also a short drive away. The space is currently leased to a medical clinic and a baking studio and will expire in 2025. As it is not gazetted for conservation, the site allows for greater flexibility in terms of design and renovation works in the future, says Micah Lim, associate director at JKL Consultants.

“Commercial shophouses with a tenure of 999-year in an affluent and established enclave priced at below the $10 million mark are rare in today’s market,” says Lim.

 

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