Read article: Condo Rents and HDB Volumes Went Up in last February
The corner shophouse at 8 Sixth Avenue sits on a freehold site of 2,451 sq feet, with an present gross floor space of 2,519 sq ft. BreadTalk occupies the initial degree while That Tuition Café, a co-working-style tuition center, occupies the second floor.
Sixth Avenue shophouse for about $15.5 million
There are just around 20 shophouses within this enclave and 8 Sixth Avenue stands out due to its prominent corner location, notes Yap Hui Yee, director of investment earnings & capital markets in Savills Singapore, the exclusive marketing agency for your home.
“This kind of offering is barely accessible as a number of these shophouses are closely held by high net-worth individuals,” says Yap. “This corner unit joins an auspicious address in a rich area and approval for F&B use for a portion of their earth floor space”
Through time, Sixth Avenue has changed to a notable way of life and recreational solution for residents from the Bukit Timah area, based on Yap.
The shophouses in the region are much sought after given their place in a recognized prime District 10 residential enclave of mostly landed property and condos and forthcoming high-end developments like Allgreen Properties’ Fourth Avenue Residences and Royalgreen.
They’re also only a three-minute walk into the Sixth Avenue MRT station on the Downtown , close to numerous bus stops and readily accessible by automobile from Bukit Timah Road and Dunearn Road.
The shophouse in 8 Sixth Avenue is completely rented and accessible for sale by private treaty.
Lorong Mambong shophouse for about $20.8 million
Situated at 22 Lorong Mambong, another notable shophouse sits directly in the core of Holland Village. It’s completely rented: the renter on the floor level is Harry’s Bar, although the top level is inhabited by F45 fitness center.
The property is currently available for sale by private treaty, together with Savills as the exclusive advertising and marketing agency.
“The potential buyer is expected to profit from the continuing transformation of Holland Village, which includes an eclectic mixture of old coffee stores and fresh, hip F&B pubs and outlets, in addition to lifestyle stores,” says Yap.
The last recorded trade was in the opposite end of the road. It had been the selling of 48 Lorong Mambong to land investment and development team, 8M Real Estate.
The Holland Village MRT station and taxi stand in addition to bus stops are nearby, which makes the place very available, notes Yap. Unsurprisingly, the freehold stores in the prime District 10 enclave of Holland Village, which comprises Holland Avenue and Lorong Liput, are very popular with shareholders.
The land sits on a freehold site of 1,507 sq feet with a built-up region of 2,042 sq ft. The purchase cost translates into $7,444 psf according to the present built-up location.
‘Comparatively resilient’ industry
The simple fact that both freehold store units are zoned for industrial beneath the URA Master Plan also suggests they aren’t exposed to further purchaser’s postage duty restrictions and so appealing to foreign buyers,” states Galven Tan, deputy managing director of investment sales and capital markets in Savills Singapore.
“Given that the degree of enquiries generated from the 2 shophouses in Lorong Mambong and Sixth Avenue, we believed that this industry is relatively resilient,” he adds.
Therefore, Savills is currently marketing the industrial components at Tedge, a mixed-use advancement by Macly Group, in a private basis. Situated at the intersection of Changi Road and Telok Kurau Road, the five-storey-plus-attic development comprises 42 flats on the top floors and four strata commercial components on the podium flooring. It sits on a freehold site of approximately 18,800 sq ft.
The four strata commercial components have four distinct names, but will probably be marketed as a whole into one purchaser, says Tan. The entire floor area of these four components is 5,576 sq feet, of which 75% is accepted for restaurant/F&B use.
There was a coffee store at the exact same junction, ” he adds. The coffee shop was located within one of eight single-storey shophouses found at Telok Kurau earlier it had been bought en bloc from Macly Capital for $35.5 million in January 2018.
“This really is a really mature private residential area, and it is a natural catchment for residents in the region,” notes Tan. “Another F&B outlets on the exact same stretch — the food courts, coffee shops and restaurants — are around for several decades, therefore, it’s a recognized F&B enclave.”
Tan considers the industrial components at Tedge are best for one purchaser since it’s going to be better for the owner to plan the F&B idea. “If you market to four person strata owners, then there’ll be competing demands and it’s going to be tough to manage conflicting interests,” he adds.
No competition out of prospective improvements for Tedge
The Tedge business podium is going to have a notable frontage across Changi Road. The job is elevated above street level, and there’ll be seven designated parking areas for the industrial components within the creation. But, street parking is available near also, notes Tan.
According to URA’s strategy, there aren’t any other new regions which have obtained F&B approval along that stretch. “There will not be any contest from prospective new improvements,” he adds.
Tan sees curiosity coming largely from local small business owners that are knowledgeable about the place and also understand the market dynamics .
The homes at Tedge are a mixture of 2 – to four-bedroom flats and penthouses. As it erupts in March, eight units had been offered at prices which range from approximately $1.28 million ($1,652 psf) to get a 775 sq feet, two-bedder to $1.87 million ($1,508 psf) to get a 1,238 sq feet, four-bedder. Typical cost of units sold was 1,597 psf. The job is expected to appeal to young families as it is close to the Kembangan MRT station, together with colleges in the area, for example Tao Nan School, St Patrick’s School and Tanjong Katong Girls’ School.
“The industrial podium is excellent for restaurants, bistros, gourmet coffee joints or even a food court,” Tan observes.
“Although Covid-19 might have clouded the short term prognosis for the F&B industry, in the conclusion of the day, we’re social animals; folks still wish to venture out and meet with their friends for a meal or beverages.”