Shophouses at Lavender, Geylang up for sale by tender, expression of interest

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SHOPHOUSES at 53 Lavender Street, 35 Tyrwhitt Road and 8 Lorong 22 Geylang have been put up for sale by tender and via expression of interest by exclusive marketing agent PropNex Realty.

The shophouse at 53 Lavender Street is four storeys high with a land size of 2,083 square feet (sq ft) and a total built-up area of approximately 6,433 sq ft. It is located between Kitchener Complex and Aperia Mall, and is 350 metres away from Lavender MRT station.

The property has a guide price of S$9.5 million, which amounts to about S$1,477 per square foot (psf) on approximate built-up area.

Meanwhile, 35 Tyrwhitt Road is a four-storey shophouse that has been newly renovated. It spans a total land size of 1,653 sq ft and has a built-up area of approximately 5,660 sq ft excluding the roof terrace. Modern Izakaya restaurant bistro Stixers is located on the ground storey, while the upper levels are fitted out with 10 bedrooms for residential use. Other suitable uses for 35 Tyrwhitt Road include office, co-living, education, fitness centre, medical and students’ hostel.

Ample parking space can be found nearby across Jalan Besar Sports Centre, Jalan Besar Plaza, Arc 380, and City Square Mall. With a price of S$1,378 psf on the approximate built-up area, the price for 35 Tyrwhitt Road starts from S$7.8 million.

PropNex senior associate division director Loyalle Chin said: “The gentrification of city fringe shophouses such as Jalan Besar has resulted in investors acquiring, paying more attention to these shophouses enjoying low psf and increasing human footfall.”

Finally, 8 Lorong 22 Geylang is a single-storey building, and has been approved by the Urban Redevelopment Authority (URA) to be redeveloped into an institutional development consisting of five storeys with a roof terrace, and a shop at the first storey. The property is not subject to additional buyer’s stamp duty and is eligible for purchase by foreigners. (see amendment note)

It has a land size of 1,655 sq ft and a plot ratio of 2.8, which allows its gross floor area to be built up to about 4,634 sq ft. The building is located more than 400 metres away from Aljunied MRT station, and is suitable for multiple uses like retail and association.

Hotel Compass, located along the same street, was transacted at approximately S$21.5 million.

The shophouse at 8 Lorong 22 Geylang has a guide price of S$7 million, which translates to S$1,511 psf per plot ratio on maximum gross floor area.

The sale by tender for 53 Lavender Street and 35 Tyrwhitt Road will close on June 8 at 3pm, while the expression of interest for 8 Lorong 22 Geylang will close on June 29 at 3pm.

source: The Business Times

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