The 221 Rangoon Road shophouse, a freehold two-storey property, has been listed for sale through an expression of interest (EOI) exercise. The property, which is situated on a 2,145 sq ft land with a total built-up area of 3,347 sq ft, is zoned for residential use with a gross plot ratio of 3.0 according to the 2019 Master Plan. The guide price for the property is $8.88 million, equivalent to $2,653 psf on the built-up area.
The ground floor of the property is currently leased to a restaurant for F&B use, while the upper floor is rented out for residential purposes. This presents a great opportunity for future investors to enjoy immediate rental income, as mentioned by Sammi Lim, the founder and executive director of Brilliance Capital, which is the sole marketing agent for the property. Lim anticipates a high level of interest from co-living operators, boutique developers, and family offices seeking a freehold asset.
Located a mere 10-minute walk from Farrer Park MRT Station on the North-East Line, the property is in close proximity to various landmarks and retail options. These include Mustafa Centre on Syed Alwi Road and City Square Mall on Kitchener Road. Additionally, the fully integrated healthcare and hospitality complex Connexion on Farrer Park Station Road offers a multitude of amenities such as the One Farrer Hotel and Spa and The Farrer Park Medical Centre.
Investing in a Singaporean condo has become a top pick for both local and foreign investors, thanks to the country’s thriving economy, stable political climate, and excellent quality of life. The real estate market in Singapore boasts a plethora of opportunities, and condos are particularly attractive for their convenience, amenities, and potential for significant returns. In this article, we will delve into the advantages, important factors to consider, and essential steps to take when looking to invest in a condo in Singapore. To make your search easier, you can also check out Singapore Projects.
The EOI for the property will close on October 23 at 3pm. Interested parties looking for a freehold asset with potential for rental income should consider this shophouse, with its strategic location and attractive features.