5 Teck Chye Terrace shophouses up for auction

A row of five adjoining shophouses at Teck Chye Terrace will be put up for sale by auction later in January.

Located at the junction of Upper Serangoon Road and Boundary Road, the freehold shophouses sit on a land area of about 7,861 sq ft . The five units have a total floor area of approximately 12,163 sq ft.

Its marketing agent Colliers International said in a statement on Monday (Jan 5) that the shophouses will be sold as an entirety, with an indicative price of S$13 million. This works out to about S$1,069 per sq ft.

Colliers Deputy Managing Director Grace Ng said: “Typically, the average price of a similar suburban freehold shophouse ranges from S$1,300 per sq ft to S$1,500 per sq ft.”

The first storey of all five units have obtained permanent approval for “Shop” use. Each shophouse also has a side staircase for access to the upper storey.

In comparison, Colliers pointed out that a shophouse located at Serangoon Garden Way was sold at S$2,478 per sq ft in March 2014, and another unit at Serangoon Road was sold for S$1,556 per sq ft in February 2014.

Source : Channel NewsAsia – 5 Jan 2015

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