Freehold shophouse in Geylang on the market for $18 mil

The website is zoned for property use or institutional usage with a gross plot proportion of 2.8, and also a permitted elevation of approximately 8 storeys, based on the current Master Plan. According to the advertising and marketing agent, the shophouse is currently completely tenanted.

The most current launch in the area was the 110-unit Rezi 24 on Lorong 24 Geylang, which was introduced to buy in March 2019.

A freehold shophouse at 6 Lorong 19 Geylang has been put up for sale via expression of interest with a $18 million asking rate. The building is marketed by Mount Everest Properties.

The building remains on a 5,583 sq ft website as well as has a floor area of about 12,000 sq ft. Thus, the asking rate translates to a land rate of $3,224 psf, or regarding $1,500 psf on the flooring area.

The shophouse is close to Kallang and also Aljunied MRT Stations on the East-West Line. Nearby mall consist of Paya Lebar Quarter, Paya Lebar Square, as well as SingPost Centre.

Based upon EdgeProp’s Landlens analytics tool, there have actually been two current en bloc deals in the vicinity. They entailed Advance Apartments on Lorong 25 Geylang, which negotiated for $26.5 million ($ 1,270 psf) in December 2020, and Yuen Sing Mansion on Lorong 13 Geylang, which was sold for $15.2 million ($ 1,580 psf) in August 2020