_Rare Tiong Bahru ground floor shop space for sale at $3.3m via Expression of Interest
Singapore – Knight Frank is pleased to offer a coveted ground floor retail space in the Tiong Bahru enclave for sale via Expression of Interest (EOI).
The 1,367 sq ft property located at 71 Seng Poh Road faces the famous Tiong Bahru Market and Food Centre and is surrounded by a wide range of amenities including trendy cafes such as Toast Box, Creamier and Merci Marcel, indie boutiques, art galleries and the Tiong Bahru Heritage Area.
It is well served by multiple MRT stations on the East-West Line and the Thomson-East Coast Line, and easily accessible to the Central Expressway and the Ayer Rajah Expressway.
The recently renovated, fully-fitted property is currently a pharmaceutical store with a storeroom and toilet. It has full frontage to Seng Poh Road, with available parking at its front entrance and ample parking behind the block.
The last such transaction in the estate was a 1,044 sq ft shop a few doors away. The shop changed hands at $3.2m in July 2021. It was sold with vacant possession.
Tiong Bahru, one of the trendiest neighbourhoods in Singapore, continues to catch the attention of real estate developers and investors due to its unique charm and potential for growth and development.
Well-connected to major transport nodes and located minutes from the Central Business District and the new Havelock MRT Station, it has undergone significant transformation over the years ̶ evolving from a mature residential enclave with art deco-style homes dating back to the 1930s to a vibrant lifestyle hub for food, culture, history and art.
The development of this heritage area’s attractions has led to an increase in footfall, and constantly refreshed shopping and dining experiences for locals and expatriates to explore.
Ms Mary Sai (蔡竺樾), Executive Director, Capital Markets, Knight Frank Singapore (执行董事,资本市场部, 莱坊), said, “Shops in this neighbourhood enjoy high footfall among locals and tourists. However, they are held tightly by most owners for investment or owner occupation, and so are rarely for sale.”
As the subject space is a commercial property, no Additional Buyer’s Stamp Duty or Seller’s Stamp Duty is payable. Foreigners are eligible to purchase the property, subject to approval from the relevant authorities.
The EOI will close on 29 November 2023 at 3:00 PM.
For further information, please contact:
Mary Sai
Executive Director, Capital Markets, Knight Frank Singapore
(E) mary.sai@sg.knightfrank.com (D) +65 9388 7879
Lilian Hoe
Director, Marketing, Communications, Legal and Compliance, Knight Frank Singapore
lilian.hoe@sg.knightfrank.com | +65 6228 6807
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