Rare Prime Paya Lebar shophouse for sale at $8.8 mil part of enbloc redevelopment
A corner shophouse on Upper Paya Lebar Road is now available for sale through an expression of interest (EOI) exercise. The former restaurant property has a guide price of $8.8 million and is situated on freehold land zoned for both residential and commercial use. Its built-up area, which excludes an open roof terrace, is approximately 3,089 sq ft.
According to marketing agent Huttons Asia, the shophouse encompasses two separate strata titles: 129 and 129A Upper Paya Lebar Road. The first level, approved for restaurant use, includes an outdoor refreshment area. Access to the upper floor of the shophouse is provided by a separate staircase at the side of the building.
Conveniently located just 420m away from Tai Seng MRT Station on the Circle Line, the shophouse stands to benefit from its proximity to commercial and industrial buildings that attract a steady stream of customers to the ground floor restaurant. Huttons Asia’s executive group district director, Jeremy Lim, explains that the area’s new residential developments in the Bartley and Bidadari regions have also contributed to the demand for F&B restaurants and other retail offerings on Upper Paya Lebar Road.
Further bolstering demand for the shophouse is the anticipated rejuvenation of nearby Defu Industrial Estate. Huttons Asia’s associate division director, Geraldine Teh, believes that the growth of the estate, expected to bring about 2.1 million sq m of industrial space to the area, will attract businesses in the logistics, precision engineering, and biomedical sectors.
Huttons Asia’s senior director of data analytics, Lee Sze Teck, agrees, stating that the promising future prospects of the shophouse, coupled with its “attractive” price point below $10 million, should appeal to investors.
The EOI exercise for the shophouse will close on March 28 at 4pm.
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Recent commercial transactions on Upper Paya Lebar Road (Source: EdgeProp Research)
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A prime corner shophouse on Upper Paya Lebar Road, with a guide price of $8.8 million, is now available for sale through an expression of interest (EOI) exercise. The property, which is freehold and zoned for both residential and commercial use, has a built-up area of around 3,089sq ft, excluding the open roof terrace.
The shophouse, marketed by Huttons Asia, encompasses two separate strata titled addresses on 129 and 129A Upper Paya Lebar Road. The first storey is currently approved for restaurant usage and includes an outdoor area for refreshments. Access to the upper level of the shophouse is via a separate staircase at the side of the property.
Located just 420m away from Tai Seng MRT Station on the Circle Line, the shophouse enjoys a steady flow of customers from the surrounding industrial and commercial buildings, notes Jeremy Lim, executive group district director at Huttons Asia. He adds that the new residential developments in the surrounding areas of Bartley and Bidadari have also contributed to the demand for F&B establishments and other retail options on Upper Paya Lebar Road.
Huttons Asia’s associate division director, Geraldine Teh, believes that the property will see even greater demand with the proposed rejuvenation of the nearby Defu Industrial Estate. This development is expected to add approximately 2.1 million sq m of industrial space for the logistics, precision engineering, and biomedical sectors.
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According to Huttons Asia’s senior director of data analytics, Lee Sze Teck, the shophouse’s promising future coupled with its “attractive” price below $10 million makes it an ideal option for investors.
The EOI exercise for the shophouse will close on March 28 at 4pm.
Advertisement
Recent commercial transactions on Upper Paya Lebar Road (Source: EdgeProp Research)
RELATED NEWS
Shophouse at South Bridge Road for sale at $8.8 mil
Hongkong Street shophouse on the market for $23.65 mil
New commercial building at Jalan Besar for sale at $24.23 mil