Freehold shophouses at Sembawang Road up for collective sale

02 Jul 2018
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Freehold shophouses at Sembawang Road up for collective sale

Ideal for redevelopment into a boutique mixed-use development

SINGAPORE, 2 JULY 2018 – Edmund Tie & Company (ET&Co), the sole marketing agent for a row of shophouses along Sembawang Road, is pleased to offer the freehold collective sale site for sale by tender. 100 per cent of the owners have consented to the sale. The development was completed in the 1980s and comprises seven shophouses.

The subject property has a land area of approximately 2,261.3 square metres (sq m) or 24,340 square feet (sq ft) and is zoned for residential with commercial at 1st storey use at gross plot ratio of 1.4 under the URA Master Plan 2014.

A strategic location within Sembawang’s heartlands, 401 to 413 Sembawang Road has excellent main road frontage and dual access from main Sembawang Road and Jalan Lengkok Sembawang. There is a great strategic commercial potential for the shophouses as business owners can seize the opportunity to cater to residents who live in that area which is currently lacking such amenities. It also enjoys a wide catchment as the shophouses are directly opposite a row of HDB with surrounding Northwoods Condominium, Euphony Gardens, Greentree Montessori Children Hub, Yishun Secondary School, Jiemin Primary School and Yishun Junior College. The property enjoys excellent connectivity to other parts of Singapore via major roads and expressways such as the Seletar Expressway (SLE) and Central Expressway (CTE).

The asking price is $24m, which reflects a land rate of $814 per square foot per plot ratio (psf ppr). Senior director for investment advisory Tan Chun Ming commented: “With the lack of private land sale and supply of land in this area, this is a rare chance for developers to create a freehold product in the mature Sembawang estate. We see a great opportunity for retailers to cater to residents in the Sembawang area and to enliven its retail scene. With the asking price of just $24m, this site is an affordable choice for boutique-sized developers.”

The tender exercise for the site will close on Monday, 30 July 2018 at 12 noon.

ENDS

For further information, please contact:

Vanessa Lim

Manager, Corporate Communications

6393 2369

This email address is being protected from spambots. You need JavaScript enabled to view it.

 

About Edmund Tie & Company

Edmund Tie & Company (ET&Co) is a full-service, real estate consulting firm with more than 500 skilled professionals in the region. It is headquartered in Singapore and supported by offices in Kuala Lumpur, Malaysia, and Bangkok, Thailand. ET&Co offers a comprehensive suite of agency and professional services including investment advisory, commercial and retail, residential agency, auction and sales, valuation advisory, statutory valuation and property tax advisory, research and consulting, property management, and hospitality management. For more information, please visit www.etcsea.com.

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