Sembawang Road shophouses for sale
A row of shophouses on Sembawang Road are up for sale.
The seven houses, development on which was completed in the 1980s, are freehold properties offered for collective sale by tender under Edmund Tie & Co, sole marketing agent for the site.
A 24,340sqft property zoned as residential with commercial use at the first storey, the shophouses are being touted as having great commercial potential for boutique mixed-use redevelopment.
Tan Chun Ming, senior director for investment advisory, said: “With the lack of private land sale and supply of land in this area, this is a rare chance for developers to create a freehold product in the mature Sembawang estate. We see a great opportunity for retailers to cater to residents in the Sembawang area and to enliven its retail scene. With the asking price of just $24 million, this site is an affordable choice for boutique-sized developers.”
Tenders for the site will close on July 30.