Freehold Holland Village shophouse up for sale for S$13.5m

A FREEHOLD, two-storey shophouse at 26A and 26C Lorong Mambong is up for sale for S$13.5 million, marketing agent Knight Frank said on Tuesday.

The shophouse in the Holland Village enclave comprises two strata units, with a total floor area of 1,841 square feet (sq ft), in addition to an outdoor seating area of 420 sq ft.

It is zoned for commercial use under the Urban Redevelopment Authority's (URA) Master Plan 2019, with the ground floor being used as a cafe and the upper floor as a beauty salon.

Under the current zoning, foreigners are eligible to purchase the property with no additional buyer's stamp duty and seller's stamp duty payable, Knight Frank said.

Holland Village MRT station is located nearby. Prominent buildings in the vicinity include Holland Village Market & Food Centre, the refurbished Holland Piazza Shopping Mall, Holland Road Shopping Centre and the upcoming mixed-use development, One Holland Village.

Mary Sai, Knight Frank Singapore's executive director of capital markets for land & building, collective & strata sales, noted that with the Republic's Phase Three reopening, the dining crowd has returned to the area to enjoy its many food and beverage offerings.

"With URA's plan to inject a fresh wave of life into Holland Village with a new, mixed-use, pedestrian-oriented development, the buzz and vibrancy synonymous with the area will continue to thrive," she added.

According to Knight Frank, the demand for shophouses has remained unabated, as buyers continue to find value and potential appreciation in acquiring such assets, especially those in good locations. In the fourth quarter last year up till Dec 23, 2020, an estimated S$387 million was transacted over 45 deals, Knight Frank noted.

The marketing agent added that available shophouses for sale in Holland Village are uncommon, as most owners tend to hold their properties for long-term investment. The last sale transacted in the vicinity was a two-storey shophouse at 257 Holland Avenue in March last year. It was sold for S$15.2 million and has a land area of 1,507 sq ft, Knight Frank said.

The expression of interest exercise for the Lorong Mambong shophouse will close on Feb 4, 3pm.