Shophouses in Geylang up for sale at S$1,350 psf

A ROW of five adjoining shophouses under a single title along 236-244 Geylang Road has been put up for sale by broker JLL.

The indicative price for the freehold property is S$28.8 million, or around S$1,350 psf on the total built-up area of 21,349 sq ft.

The property is held under a single title, and has seven carpark lots. There is a Chinese restaurant and a provision shop on the ground floor, and an office and an association on the upper floors.

Earlier this year, OCBC sold a shophouse at 382 Geylang Road, which has a built-up area of around 3,300 sq ft, for S$5.1 million. This works out to S$1,545 psf on the built-up area.

According to the Urban Redevelopment Authority (URA) website, a strata-titled shophouse in the Geylang Conservation Area went for S$4 million in February 2014.