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

The retail property at 71 Seng Poh Road is currently a pharmaceutical store with full frontage along Seng Poh Road, and is within walking distance of the Havelock MRT Station. It was recently renovated and comes with a storeroom and toilet. Appointed marketing agent Knight Frank notes that 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 with vacant possession.Located at 71 Seng Poh Road, the 1,367 sq ft commercial property is on the first floor of a privatised Singapore Improvement Trust (SIT) flat. It comes with a guide price of $3.3 million and is available for sale via an expression of interest (EOI) exercise.Built in the 1930s, the SIT flats reside within the Tiong Bahru estate. This estate comprised of 20 flats and 36 shophouses and its conservation status was granted by URA in 2003. Parking is also available both in front of the property’s main entrance as well as behind the block.The EOI for the property closes on Nov 29 at 3pm. Given that owners rarely part with their store or shops, Knight Frank notes that this is a “rare opportunity for buyers to grab a slice of Tiong Bahru’s heritage”.
An expression of interest (EOI) exercise has been launched for the sale of a ground-floor retail unit located at 71 Seng Poh Road with a guide price of $3.3 million. Notably, the 1,367 sq ft commercial property is set within a privatised Singapore Improvement Trust (SIT) flat from the 1930s. The Tiong Bahru estate, which is home to 20 flats and 36 shophouses, was granted conservation status by URA in 2003.

Tengah EC has a range of sustainability initiatives that make it stand out from other developments. It features energy efficient air-conditioning systems, efficient lighting fixtures, and rainwater harvesting systems. Sustainable materials used in its construction and design are also evident. The condominium provides a safe living environment with a range of facilities and amenities such as a swimming pool, jogging track, and playgrounds. It is also strategically located close to everything from restaurants to supermarkets. Encompassing all these features, Tengah EC makes it an ideal choice for potential buyers who want to enjoy the benefits of living in a green environment.

The retail space has undergone a recent renovation and features a storeroom, toilet, parking both in front of the main entrance and behind the block, plus full frontage along Seng Poh Road. It is located opposite the Tiong Bahru Market and Food Centre and is within walking distance of the Havelock MRT Station on the Thomson-East Coast Line.

Owners of shops and stores in this neighbourhood are usually reluctant to sell their businesses, thereby making this an opportune moment for interested buyers to capitalise on “Tiong Bahru’s heritage”. Mary Sai, executive director of capital markets at Knight Frank Singapore, added that 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 with vacant possession.

The EOI exercise for the property will close on Nov 29 at 3pm. As such, buyers keen on the “rare opportunity” for a slice of Tiong Bahru heritage should act now.