Holland Village shophouse units, land parcels up for sale at $13.8m
SINGAPORE (THE BUSINESS TIMES) - Two retail units within a shophouse in Holland Village together with their adjacent front and rear land parcels have been launched for sale at an indicative price of $13.8 million.
The two strata units, one on the first storey and the other on the second storey, are located at 26A and 26C Lorong Mambong respectively.
The Freehold properties have a total strata area of about 1, 840 square feet (sq ft). Meanwhile, the front and rear land parcels span a combined land area of about 1, 020 sq ft.
The first-floor unit is approved for restaurant use, and the land parcels may be leased out as outdoor refreshment areas for patio dining use, exclusive marketing agent Cushman & Wakefield said on Monday (Feb 3).
The second-floor unit was most recently used as a hair salon, although the eventual buyer may apply for a change of use subject to approval from the relevant authorities, Cushman & Wakefield told The Business Times.
"Freehold commercial properties within District 10 are rare, " said Shaun Poh, executive director of capital markets at the real estate services firm.
Holland Village has been earmarked by the Urban Redevelopment Authority (URA) as a growth precinct with plans for more pedestrian walkways and a new community park. Nearby, a mixed-use development, One Holland Village, is also under construction.
"Given URA's plans for the precinct and the anticipated completion of new developments in the immediate vicinity, the properties will likely appeal to investors seeking prime assets with tremendous potential for capital appreciation and rental upside, " Mr Poh said.
The shophouse and land parcels are a three-minute walk from the Holland Village MRT station. Within the Holland Village enclave is a mix of restaurants, cafes and sports bars.
Foreigners can purchase the properties, and additional buyer's stamp duty will not be applicable.
The expression of interest exercise closes on March 5 at 3pm.