Owners of Properties of 2, 4 and 6 St George’s Road Launched En Bloc Sale for S$26.5 Million
A collective sale bid for residential cum commercial complex at St George’s Road has been launched.
The asking price has been fixed at S$26.5m for the residential units and 3 shop rows below.
The freehold properties measure 4,403 sq ft and its plot ratio is 3.0 located on 2, 4 and 6 St George’s Road.
According to Jie Sheng Housing Agency, the marketing agents overlooking the sale, the GFA (gross floor area) of the property is 13,210 square feet.
They added that the asking price works out on a S$2,006 psf ppr.
Key Executive Officer of Jie Sheng, Terence Ng said that the proposed sale has the approval of all current owners.
Currently the commercial unit is occupied by a provision shop, coffee shop and a GP clinic.
The properties on 2 and 4 St George’s Road currently have strata malls and four apartments while Unit 6 is occupied by a shophouse.
At present the site has residential use approval along with commercial use only for the first storey. A new buyer can build 5 storeys on the property.
Any proposed redevelopment project on this property can include a 4,000 square feet restaurant, showroom or coffee shop on the ground floor and up to 12 apartments or students’ hostel on the above storeys, subject to approval.
Terence Ng said that the property will be ideal for a housing company as it is strategically located and the MRT station is close by.
He added that the property also has a freehold title which means that its value is likely to appreciate in the coming years.
It is about 3 minutes away from the Boon Keng MRT Station and the property is located on the junction of St George’s Road and Serangoon Road.
Due to this, it has high visibility which added to its advantage, Mr. Ng added.
There is a car parking facility just opposite the property as the newly constructed HDB 5-storey car park recently opened for use.