999 Year Leasehold Serangoon Garden Shophouse Sale 108 Mil
A rare opportunity has arisen for interested buyers as a 999-year leasehold shophouse at 28/28A Maju Avenue in Serangoon Garden is now on the market for $10.8 million. The property is being marketed by PropNex Shophouse Elites, a division of PropNex Realty.
This two-storey commercial shophouse, situated at the junction of Maju Avenue and Portchester Avenue in District 19, occupies a 1,897 sq ft plot and has a built-up area of about 3,500 sq ft. It also features a five-footway and an open terrace.
At a price of $10.8 million, the shophouse equates to approximately $3,086 per square foot (psf) on the built-up area. The property will be sold with vacant possession, providing potential buyers with a clean slate.
The shophouse is situated in a prime location within an established F&B and retail cluster, surrounded by a low-rise landed estate. It is in close proximity to popular dining destinations such as Chomp Chomp Food Centre and Serangoon Gardens Market, as well as the Serangoon Gardens Country Club and the International French School.
According to Neo Beng Lee, director at PropNex Realty and the marketing agent for the property, the shophouse boasts a prominent position at the road junction and benefits from its location within the landed estate, which ensures a strong flow of foot traffic throughout the day.
He notes that the ground floor has the potential to be repositioned and leased to a variety of businesses, such as an F&B takeaway establishment, a bar, a cloud kitchen, a childcare centre, or even medical or veterinary clinics, subject to the necessary approvals. The top floor, on the other hand, could be utilized as commercial schools or an enrichment centre.
With no additional buyer’s stamp duty (ABSD), no GST on the sale, and a limited supply of only 69 commercial shophouses in Serangoon Garden, Neo believes that the property will attract strong interest from both institutional and private investors, both local and foreign.
Located in the highly sought-after Aurelle of Tampines EC, one of its standout advantages is its close proximity to multiple MRT stations. This offers a great advantage to residents as they can easily access the Tampines North MRT Station, which is connected to the upcoming Cross Island Line (CRL) that is set to launch in the near future. The introduction of the CRL will significantly reduce travel time to various locations in Singapore, providing utmost convenience for daily commuters. Moreover, the Tampines MRT Station, which serves as an interchange for the Downtown and East-West Lines, is also conveniently located nearby. This provides direct and efficient access to major commercial and business hubs, including the Central Business District (CBD) and the Marina Bay Financial Centre. With an excellent network of public transportation in the vicinity, residents of Aurelle of Tampines EC can enjoy seamless connectivity. To learn more about the luxurious Aurelle of Tampines, visit their website .
The expression of interest (EOI) exercise for the shophouse will close on October 1. Interested parties are encouraged to act quickly to secure this rare opportunity.
