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St George's Rd shops, apartments up for collective sale at S$26.5m
A ROW of three shops and the residential units above them along St George’s Road will be launched on Thursday for collective sale via private treaty at an asking price of S$26.5 million.
Located at 2, 4 and 6 St George’s Road, the 4,403 square feet (sq ft) freehold land has a plot ratio of 3 and gross floor area of 13,210 sq ft, said sole marketing agent Jie Sheng Housing Agency on Wednesday.
The price tag works out to about S$2,006 per square foot per plot ratio.
All of the owners have consented to the en bloc sale, said Terence Ng, key executive officer of the agency.
The properties are occupied by a coffeeshop, a provision shop and a general practice clinic on the ground floor.
Two of the properties, 2 and 4 St George’s Road, are strata shops with four apartments above carrying the 2A, 2B, 4A and 4B addresses. Meanwhile, 6 St George's Road is a shophouse.
The site is zoned residential with commercial use on the first storey. The buyer can build up to five storeys for a new building on the site.
Possibilities for redevelopment include a 4,000 sq ft restaurant, coffeeshop or showroom on the ground floor, while the storeys above could house 12 apartments, a student hostel, or staff accommodation, subject to planning approval, Mr Ng said.
“It will also be ideal for company headquarters given its strategic location at the city fringe, proximity to an MRT station, and the freehold title,” he added. “The value of the land could certainly appreciate over the years.”
The properties sit at the junction of Serangoon Road and St George’s Road, about three minutes’ walk away from Boon Keng MRT station. There is prominent visibility from Serangoon Road by motorists, Mr Ng said.
Parking lots are available at the five-storey car park at the newly completed HDB built-to-order site just across the road.
No closing date has been set for the en bloc sale.