A pair of recently constructed shophouses located at 26 and 24 Moonstone Lane, off Serangoon Road which is to auction through the expression of interest (EOI) process. The property is located on a corner freehold parcel, the shops are on two separate titles of land with a total area of 2877 sq ft.
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Two-storey shophouses that are not conservation-friendly with an attic as well as a balcony. They cover a floor area of 6,152 square feet. The shophouses are designed for residential use, with commercial use on the first storey and a plot ratio of 3.0 This means that the properties have a maximum permissible floor space of 8,632 square feet. The ground floor areas of both shophouses are granted been approved for use as restaurants.
The shophouses are available for to be sold individually or together according to the market agent Savills Singapore. The 24th Moonstone Lane has a guide price of $6 million and 26 Moonstone Lane has a guide price of $6.68 million. The shophouses collectively are listed at $12.68 million.
“The shophouses were thoughtfully constructed and elegantly retrofitted which means they will appeal to a broad range of buyers seeking to buy for personal use or as investments,” says Yap Hui Yee, executive director for capital markets and investment sales in Savills Singapore.
Yap mentions that the potential buyer could live at the higher floors in shophouses, while operating the F&B establishment on the ground. In addition, investors could consider leasing the shophouses out to serviced apartments or co-living proprietors, subject to approvals from authorities.
The shophouses are located in The Moonstone Lane residential enclave bounded by Serangoon Road and the Kallang River. Its Potong Pasir MRT Station on the North-East Line is an eight-minute walk from the location.
The EOI process for the 24 to 26 Moonstone Lane will close on November 9 at 3pm.