Rare conservation shophouse in City Fringe with redevelopment opportunity
S$ 23,000,000
Negotiable
6,500
sqft
S$ 3,538.46
psf
500 m (6 mins) from EW9 Aljunied MRT Station
770 m (9 mins) from CC9 Paya Lebar MRT Station
Photos
Map View
Property details
 |  |
 |  |
 | |
About this property
3 adjoining corner conservation shophouses on a prominent dual-frontag
489–493 Geylang Road | Redevelopment Opportunity
3 adjoining corner conservation shophouses on a prominent dual-frontage site.
• Asking: $23M
• Tenure: 199-year lease from 2005 (~178 years balance)
• Land: ~3,830 sqft
• Existing floor area: ~6,500 sqft
• Plot Ratio: 3.0, Commercial zoning
• Max allowable floor area: ~11,489 sqft
• Unutilised potential: ~4,990 sqft — approximately 77% increase over existing floor area
• Potential 5-storey rear extension, subject to authorities’ approval
• Current rental: ~$51K/month / $612K p.a.
• Gross yield: ~2.66% at $23M
• Existing approved uses: L1 Eating House + L2 KTV
Key redevelopment angle:
At $23M, acquisition works out to only ~$2,002 psf based on maximum allowable floor area, before redevelopment/construction costs. The real attraction here is not the existing yield, but the opportunity to unlock nearly 5,000 sqft of additional floor area, reposition the asset and potentially significantly enhance its NOI and capital value.
Call Raymond Giam at 9***** now
3 adjoining corner conservation shophouses on a prominent dual-frontage site.
• Asking: $23M
• Tenure: 199-year lease from 2005 (~178 years balance)
• Land: ~3,830 sqft
• Existing floor area: ~6,500 sqft
• Plot Ratio: 3.0, Commercial zoning
• Max allowable floor area: ~11,489 sqft
• Unutilised potential: ~4,990 sqft — approximately 77% increase over existing floor area
• Potential 5-storey rear extension, subject to authorities’ approval
• Current rental: ~$51K/month / $612K p.a.
• Gross yield: ~2.66% at $23M
• Existing approved uses: L1 Eating House + L2 KTV
Key redevelopment angle:
At $23M, acquisition works out to only ~$2,002 psf based on maximum allowable floor area, before redevelopment/construction costs. The real attraction here is not the existing yield, but the opportunity to unlock nearly 5,000 sqft of additional floor area, reposition the asset and potentially significantly enhance its NOI and capital value.
Call Raymond Giam at 9***** now
Amenities
Car parking outside
Estimated mortgage
Mortgage breakdown
Est. monthly repayment
S$ 0 / mo
S$ 0 Principal
S$ 0 Interest
Upfront costs
Total downpayment
S$ 0
Downpayment
S$ 0 Loan amount at 0% Loan-to-value
Call
Send Enquiry
Other ways to enquire
Recommendations
FAQs
The sale price of this unit at Rare conservation shophouse in City Fringe with redevelopment opportunity is S$ 23,000,000.
Current PSF at Rare conservation shophouse in City Fringe with redevelopment opportunity is about S$ 3,538.46 psf.
The estimated loan repayment is S$ 87,844 / mo.
Rare conservation shophouse in City Fringe with redevelopment opportunity is located at Eunos / Geylang / Paya Lebar Balestier / Geylang (D12-14).
Floor size of this unit at Rare conservation shophouse in City Fringe with redevelopment opportunity is 6,500 sqft.
Call
Send Enquiry
Other ways to enquire