Row of five freehold shophouses in Joo Chiat up for sale with S$21m asking price

A BLOCK of conservation shophouses in Joo Chiat has been put on the market for S$21 million via private treaty, exclusive marketing agent Isabel Redrup Agency told The Business Times (BT).

The freehold residential site, at 33, 35, 37, 39 and 41 Tembeling Road, has a land area of about 8,969 square feet (sq ft).

Its existing built-up area totals around 15,682 sq ft, but architects have estimated the possible built-up area could reach some 23,601 sq ft, said Susan Prior, managing director of Isabel Redrup.

There is also a back lane spanning about 3,229 sq ft, which may potentially be added to the site, according to Ms Prior.

"This is a rare chance to develop a residential block of five shophouses into a single entity, to possibly serve as a home for a multi-generational family, or as a co-living complex or serviced residences for short-term stays of at least three months," she added.

A co-living operator is a tenant at two of the units and has renovated them, Ms Prior told BT.

The row of shophouses is situated along a quiet street, with parking lots available at a public car park just across the road.

The Katong V mall and Katong Shopping Centre are about an eight-minute drive away.

Educational institutions nearby include Haig Girls' School, which is a three-minute walk away, and Tanjong Katong Girls' School and Tanjong Katong Secondary, which are a four-minute drive to the property.

"The vibrancy of the Joo Chiat, East Coast and Geylang amenities are within a 1-2 kilometre radius of the shophouses," said Ms Prior.

Numerous shophouses in Singapore have been launched for sale in recent weeks, as the market wakes up after a months-long lull. Other shophouses that have come to the market of late include assets in Tiong Bahru, Bugis and Telok Ayer.