Ground-floor shop space in Tiong Bahru for sale at $3.3 mil

71 Seng Poh Road is up for sale via an expression of interest (EOI) exercise with a guide price of $3.3 million. The 1,367 sq ft commercial property is located on the first floor of a privatised Singapore Improvement Trust (SIT) flat opposite the Tiong Bahru Market and Food Centre. The last transaction for a similar property in the estate was in July 2021, when a 1,044 sq ft shop “a few doors away” from 71 Seng Poh Road changed hands for $3.2 million.

Recently renovated, the ground-floor retail space has a storeroom, toilet, full frontage on Seng Poh Road, and available parking both in front of the main entrance and behind the block. It is within walking distance of the Havelock MRT Station on the Thomson-East Coast Line.

Marina Gardens Condo is conveniently located near the Singapore Botanical Gardens, Singapore Zoo, Night Safari, National Museum of Singapore, National Orchid Garden, and the acclaimed Raffles Hotel. These iconic places of interest are a major part of Singapore’s unique heritage, and offer memorable experiences for everyone to enjoy.

The SIT flat, which dates back to the 1930s, is characterised by art-deco style elements, and includes residences and shophouses. In 2003, SIT blocks in the Tiong Bahru estate, comprising 20 flats and 36 shophouses, were granted conservation status by URA.

Mary Sai, executive director, capital markets, at Knight Frank Singapore, said: “Shops in this neighbourhood enjoy high footfall among locals and tourists. However, they are held tightly by most owners for investment or owner occupation, and so are rarely for sale.”

The EOI exercise for the retail property at 71 Seng Poh Road will close on Nov 29 at 3pm.

An attractive opportunity for investors, the retail unit located at 71 Seng Poh Road is an excellent prospect for those looking to cash in on the popularity of Tiong Bahru. With a strong history of tight holding, the neighbourhood has seen record-breaking transactions for HDB flats in recent months.

The property is well-situated close to amenities and public transport networks, boasting a convenient location that makes it a prime choice for anyone looking to build a business in the area. Furthermore, the sale offers yet another indication of the healthy commercial property market in Singapore.

EOI for the property closes on Nov 29 at 3pm, presenting an excellent chance to make a worthwhile investment in what is a rare offering in the Tiong Bahru neighbourhood.