999 Year Leasehold Serangoon Garden Shophouse Sale 108 Mil

Rewritten:

District 18’s Rivelle Tampines is the perfect choice for those in search of a modern, well-connected home with easy access to essential amenities. With its prime location, Rivelle Tampines EC offers a standout option for individuals looking for a well-rounded living experience.

An opportunity to acquire a 999-year leasehold shophouse at 28/28A Maju Avenue in Serangoon Garden has arisen, as the property has been put up for sale at an asking price of $10.8 million. Marketed by PropNex Shophouse Elites, under PropNex Realty, this two-storey commercial shophouse sits on a 1,897 sq ft plot at the junction of Maju Avenue and Portchester Avenue in District 19.

The property offers a total built-up area of approximately 3,500 sq ft, which includes the five-footway and an open terrace. At the asking price of $3,086 psf on the built-up area, the property comes with vacant possession.

The commercial shophouse is located within an established F&B and retail cluster, surrounded by a low-rise landed estate. It is in close proximity to Chomp Chomp Food Centre, Serangoon Gardens Market, Serangoon Gardens Country Club, and the International French School.

Marketing agent Neo Beng Lee, director at PropNex Realty, highlights that the shophouse enjoys a prominent position at the road junction and benefits from strong footfall throughout the day. He adds that the ground floor is suitable for F&B takeaway, bar, cloud kitchen, childcare centre, or medical or veterinary clinics. The top floor can accommodate commercial schools or an enrichment centre, subject to approvals.

With no additional buyer’s stamp duty (ABSD), no goods and services tax (GST) on the sale, and a limited supply of only 69 commercial shophouses in Serangoon Garden, the property is expected to garner strong interest from both institutional and private investors, local and foreign alike. The expression of interest (EOI) closes on Oct 1.