2-storey freehold shophouses sold fast, North Gaia units expecting the same sales figures.

 

CBRE was named the exclusive promoting specialist in the deal of corner match of two-storey freehold shophouses at 26 and 24 Moonstone Path. Expression of Intrigued offers the properties as a package. All interested parties are invited to submit their offers before 11 Walk 2020 at 3pm.

 

These two shophouses have an area of approximately 2,877 square feet. They also have an combined built-up area of 4,628 square foot. The 2019 Ace Arrange has the properties zoned as "Residential at 1st Storey with Commercial at 3.0" and a maximum building height of six stories. The subject property may be developed into a mixed-use development with a maximum permissible net floor area of approximately 8,632 square foot, subject to approval by significant authorities.Such space and area are very much close to the new EC launch in Yishun, North Gaia.

Shophouses are currently fully rented, which could provide a quick rental income stream for the successful buyer. The units are rented out to retailers who appreciate the convenience of having street car stops right at their doorstep. The improvement fee to maximize the plot percentage is subject to approval by the authorities. It is estimated to be approximately S$1.55million, setting the benchmark for North Gaia. For interested buyers, they may visit the North Gaia showflat to learn more about the development. 

CBRE's Senior Executive for Capital Markets Clemence Lee says shophouses in non-conservation areas will give buyers more flexibility in redevelopment options than shophouses within preservation ranges. We expect engineers and temporary workers to be keenly interested in finding redevelopment opportunities within the Kallang Arranging Locale, as they are not often made available. Private financial specialists will be requested by the subject property.

The buyer can also anticipate the property's steady capital appreciation over the medium-term. This could be due to URA's vision of converting Kallang Stream zones into a bustling center of activity, as well the properties' proximity to Kallang Whampoa and Bidadari, which will suit 13,000 modern private units by the year 2023," Mr Lee said. The properties are located less than ten minutes from the Central Trade Area. They enjoy a consistent network to the rest the island via major expressways, blood vessel streets, and are easily accessible by car.

The area's various condominiums such as The Poiz Homes and The Setting Homes and Shoppes will provide a ready catchment.