Eight Freehold Commercial Units Grandview Suites Geylang Market 26 Mil
in Singapore.
A prime opportunity to acquire eight freehold commercial units at Grandview Suites in Lorong 22 Geylang, District 14 has emerged. Huttons Asia, the marketing agent, announced on July 2 that the collective guide price for these properties is $26 million.
Completed in 2016, Grandview Suites is a mixed-use development with 52 residential units and eight commercial units. It has a coveted freehold status and is located along the bustling Geylang Road and Lorong 22 Geylang.
All eight commercial units are situated on the ground floor, with three of them housed in a conserved building that used to be the Aerated Water Eastern Company. This unique combination of heritage and modernity adds character and appeal to these commercial spaces, according to James Wong, head of sales and auction at Huttons Asia.
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The strata retail shops span a total floor area of 8,804 sq ft, with unit sizes ranging from 409 sq ft to 3,068 sq ft. Currently, they are occupied by a gym, medical and dental clinics, a commercial school, and a salon.
As the eight units are zoned for commercial use, there is no additional buyer’s or seller’s stamp duty payable, explains Lee Sze Teck, Huttons Asia’s senior director of data analytics. He also points out that Grandview Suites is a highly desirable investment opportunity due to its strategic location with high visibility and convenient access.
These eight commercial units were previously offered for sale in 2021 for the same guide price of $26 million, and were marketed by Knight Frank Singapore. The EOI for the properties will close on July 25 at 4 pm, providing interested parties with ample time to make their bids. See the latest listings for Commercial Real Estate properties in Singapore for more information and opportunities.