The lower level unit of a two-storey shophouse located at 24 Greenwood Avenue in District 11 is up for sale with a price tag of $8.8 million. The strata unit, which is approved for use as a restaurant, boasts a generous floor area of 1,539 square feet. With a total strata area, the asking price translates to $5,718 per square foot. Wilkie Tay and Richard Tan, directors at PropNex Shophouse Elites (PSE), are the exclusive marketing agents for this freehold property.
According to a press release by PSE, the restaurant unit also has access to a 100 square foot outdoor dining area. The upper level of this two-storey shophouse is zoned for residential use and is equipped with a separate staircase entrance. Recent commercial transactions in the area have been promising, making this property an attractive investment opportunity. (Source: EP Buddy, URA)
Richard Tan, founder of PSE, mentions that the ground floor unit is currently tenanted until mid-2026 and will be sold with the existing tenancy. This means that the new owner will have a steady stream of rental income right from the start. He also points out that 24 Greenwood Avenue is conveniently located in the Hillcrest landed residential estate, making it a bustling area with a high volume of foot traffic. The property is also near several reputable educational institutions such as National Junior College and Raffles Girls’ Primary School. Additionally, two supermarkets can be found nearby, providing residents with convenient access to daily necessities.
Interested buyers can submit their offers through an Expression of Interest exercise, which will conclude on November 15.
Investing in a condominium in Singapore has emerged as a favored option for both local and foreign investors, drawn by the country’s flourishing economy, stable political climate, and exceptional quality of life. With its diverse real estate market, Singapore offers a plethora of investment prospects, with condos being particularly attractive due to their convenience, amenities, and potential for lucrative returns. This piece will delve into the advantages, factors to consider, and necessary steps to take when venturing into the condo market in Singapore. Additionally, keeping an eye on new condo launches is crucial to stay on top of the latest opportunities.