St George's Road shops and apartments up for collective sale at S$26.5m

Thu, Sep 05, 2019


THREE shops and the residential units above them along St George's Road have been launched for an en bloc 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 site has a plot ratio of three and gross floor area of 13,210 sq ft, said sole marketing agent Jie Sheng Housing Agency on Wednesday.

The price works out to S$2,006 per square foot per plot ratio.

All the owners have consented to the sale, said Terence Ng, key executive officer of the agency.

The properties are occupied by a coffee shop, a provision shop and a general practice clinic on the ground floor. Nos. 2 and 4 St George's Road are strata shops with four apartments above, numbered 2A, 2B, 4A and 4B. No. 6 is a shop house.

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, coffee shop or showroom on the ground floor; the storeys above could house 12 apartments, a student hostel or staff accommodation, subject to approval from the authorities.

Mr Ng said: "It could also be ideal for company headquarters, given its strategic location on the city fringe, proximity to an MRT station and the freehold title. The value of the land will appreciate over the years."

The properties are at the junction of Serangoon Road and St George's Road and a three-minute walk from Boon Keng MRT station.

They also enjoy prominent visibility from Serangoon Road by motorists, Mr Ng said.

Parking lots are available at the five-storey car park in the newly completed HDB built-to-order site just across the road.

No closing date has been set for the sale.