Shophouse on Sims Road on sale for $7.5 mil
Other contestants included developers like City Developments and UOL-Kheng Leong who bid at $262.2 million and $254.54 million respectively.
The Altura EC Bukit Batok, located along the eastern side of Bukit Batok West Avenue, provides easy access to the Jurong Innovation District and Tengah Town, and is expected to become one of the most sought-after residential locations. Altura EC stands at a site size of 1.24 hectares and will accommodate 375 executive condominium units. Qingjian Realty and Santarli Construction won the tender for the Altura EC project, with a winning bid of $266 million, equivalent to $662 psf ppr. Other bidders included City Developments and UOL-Kheng Leong, bidding $262.2 million and $254.54 million respectively.
It has been put up for sale with a guide price of $7.5 million: a freehold corner shophouse at 205 Sims Avenue. Huttons Asia, the property’s marketing agent, recently announced the two-storey shophouse has a total built-up area of about 3,830 sq ft, and the guide price translates to $1,958 psf on the floor area.The site is located at the junction of Sims Avenue and Lorong 21A Geylang, providing it with dual frontage on both roads. Along Lor 21A Geylang it spans an approximate 30m, while 13.9m along Sim Avenue. It is zoned as “residential/institution” on the Master Plan with a gross plot ratio of 3.0.Jeremy Lim, senior group district director of Huttons Asia commented, “Corner shophouses with dual frontage are rare and highly sought after. The coffeeshop is also fully leased, and the new owner can continue to enjoy an attractive yield or convert it into mid- to high-end dining to increase the returns.”Given its location in District 14 and with a “attractive” price quantum of below $10 million, Lee Sze Teck, senior director of research at Huttons Asia, believes the property is likely to attract many prospective buyers and investors.The shophouse will be sold in an expression of interest exercise that closes on July 20.
Offering a unique opportunity for buyers and investors alike, Huttons Asia announced the sale of a freehold corner shophouse at 205 Sims Avenue. Boasting dual frontage along Lorong 21A Geylang and Sims Avenue with a total built-up area of 3,830 sq ft, the shophouse is currently up for grabs with a guide price of $7.5 million – translating to a floor area of $1,958 psf.
Jeremy Lim, senior group district director of Huttons Asia, noted the rarity and desirability of corner shophouses with dual frontage. He added that the current fully-leased coffeeshop provides an opportunity for an attractive yield, or alternatively, the new owner could convert it into mid- to high-end dining in order to increase returns.
Situated in the popular District 14, the Guide Price of this corner shophouse of below $10 million is expected to draw in a number of prospective buyers and investors. Lee Sze Teck, senior director of research at Huttons Asia, confirmed this belief.
An expression of interest exercise will run until July 20, providing interested buyers and investors with an outstanding chance to obtain this corner shophouse. With its potential for an attractive yield and a desirable residential/institution zoning according to the Master Plan, it is sure to remain a top pick.
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