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The recent property market has shown that freehold properties are very popular especially those in the city fringe. It can be seen that new freehold conservation shophouse which is located in the city fringe of Singapore along Serangoon Road District 08 was highly sought after and sold for 6.2 million. The records show that the brokerage company Edmund Tie was the company to handle a transaction. Please see other development location here.
The transition shows that properties that are located along the city fringe as well as the conservation area with unique facilities are highly sought after and the URA’s master plan in 2019 show that an additional transformation can be done along the stretch of road making it to have which capital gain for the development. The land size occupies 1851 square feet. Also the zoning shows that we can view up to 3562 ft.² of gross floor area for the development.
Properties that can at the 10th of the highly sought after and the conservation shophouse is rented out at $6600 per month these other areas such as office and even space located at the 1st floor of the development. Can be seen that the sale of the property, it is an existing tenancies and therefore there is renter income for the new owner of the property. It is currently tenanted and $6600 per month with a tenancy period of 3 years.
Records show that the owner is looking to sell his property in order to diversify its property polio and records also show that the shophouse was bought and $4.5 million way back in 2014. The property price also went out because the existing owner had done a major renovation to the property and the photographs also showed that the property is in very good condition and ready to be head over to the new owner.
The property includes a very charming ornaments with attractive facade there is becoming an along the streets of Upper Serangoon Road. The plan of the property also shows that there is a private car park area at the back of the shophouse making parking are very convenient place for the residents of the development. The shophouse is located on a very accessible location and is near to Farrer Park MRT Station and Boon Keng MRT Station. It is located in the city fringe of Singapore where prices of properties are not very high at the moment and there is room for capital gain. Core city centre developments may be very expensive and buyers who are looking for capital gain upside properties can look at city fringe developments such as this shophouse or The Reef at King’s Dock which is located at the city fringe of Vivocity MRT Station.