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Freehold shophouses row at Sembawang Road up for collective sale

by • July 3, 2018 • Buying a property, Enbloc, Property Market NewsComments (0)229

Edmund Tie & Company (ET&Co) announced today that it has been appointed as the the sole marketing agent for freehold shophouses row along Sembawang Road, which are being sold en bloc by tender. 100 per cent of the owners of the of freehold shophouses row have consented to the sale.

The development was completed in the 1980s and comprises seven shophouses. The tender exercise for the site of the freehold shophouses row will close on Monday, 30 July 2018 at 12 noon.

The freehold shophouses row have a land area of approximately 2,261.3 square metres (sq m) or 24,340 square feet (sq ft) and is zoned for residential with commercial at 1st storey use at gross plot ratio of 1.4 under the URA Master Plan 2014.

A strategic location within Sembawang’s heartlands, 401 to 413 Sembawang Road has excellent main road frontage and dual access from main Sembawang Road and Jalan Lengkok Sembawang. There is a great strategic commercial potential for the freehold shophouses as business owners can seize the opportunity to cater to residents who live in that area which is currently lacking such amenities.

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It also enjoys a wide catchment as the shophouses are directly opposite a row of HDB with surrounding Northwoods Condominium, Euphony Gardens, Greentree Montessori Children Hub, Yishun Secondary School, Jiemin Primary School and Yishun Junior College. The property enjoys excellent connectivity to other parts of Singapore via major roads and expressways such as the Seletar Expressway (SLE) and Central Expressway (CTE).

The asking price is $24m, which reflects a land rate of $814 per square foot per plot ratio (psf ppr). Senior director for investment advisory Tan Chun Ming commented: “With the lack of private land sale and supply of land in this area, this is a rare chance for developers to create a freehold product in the mature Sembawang estate.”

He added: “We see a great opportunity for retailers to cater to residents in the Sembawang area and to enliven its retail scene. With the asking price of just $24 million, this site is an affordable choice for boutique-sized developers.”

Notice of the en bloc sale of the freehold shophouses row comes on the heels of Sport Singapore’s announcement that Sembawang Integrated Hub will be progressively opened from the first half of 2020.

The Sembawang Integrated Hub will be called Bukit Canberra and will feature an integrated sport and community hub. To be opened in phases from 2020, the 12-hectare hub will provide amenities such as a hawker centre, indoor and outdoor sport facilities, a polyclinic, a senior care centre, green spaces for community farming and lifestyle related amenities for the community within a lush and naturalistic environment.

“Bukit Canberra is both a historical treasure and the brainchild of our residents. We have been engaging Sembawang residents since 2016 to co-create a vibrant gathering place for our residents and families. The general consensus was to conserve the greenery as much as possible, and at the same time put in place useful facilities that the community finds most useful,”  said Mr Ong Ye Kung, Minister for Education and Adviser to Sembawang GRC Grassroots Organisations.

He added, “so by 2020, we will have swimming pools, a hawker centre, a polyclinic and an indoor sports hall nestled in a nature and heritage park. It will be a special place in Sembawang and Singapore.”

Since the Sembawang Sport and Community Hub was first announced in 2016, grassroots volunteers have been engaging residents through house visits to gather ideas on possible facilities and programmes. One of the main takeaways was that they hoped to see more areas for community activities to socialise with their fellow residents of Sembawang.

Mr Ong, together with his fellow Advisers to Sembawang GRC Grassroots Organisations – Minister Khaw Boon Wan, Senior Parliamentary Secretary Amrin Amin, Dr Lim Wee Kiak and Mr Vikram Nair joined over 800 residents at a family carnival on 1 June at the future site of Bukit Canberra to commemorate the start of construction works. Symbolising the start of works, the Grassroots Advisers planted the Sembawang Tree (scientific name: Mesua ferruginea) which will be part of the 1,600 additional trees that will be planted at Bukit Canberra.

Bukit Canberra will have facilities by Sport Singapore (SportSG), Ministry of Health (MOH), National Healthcare Group Polyclinics (NHGP), National Environment Agency (NEA) and National Parks Board (NParks). With inputs from National Heritage Board (NHB), Bukit Canberra will also highlight the heritage of the area.

Sport Singapore said that development and landscaping of Bukit Canberra is shaped around the existing terrain, and retains and highlights the hilly characteristics and lush vegetation. More trees and shrubs will be planted throughout the entire site and be integrated with the various facilities to enhance the existing greenery and biodiversity, thereby allowing users to enjoy the hub’s features in a natural setting while at the same time bringing them closer to flora and fauna.

In line with the existing vegetation on site, a forest buffer around the periphery of Bukit Canberra will be conserved. It will be planted up progressively to help it mature into a tropical secondary rainforest with thriving biodiversity, and complement the surrounding NParks Nature Ways in terms of species. Running trails of varying difficulty will pass through different landscapes throughout the hub, providing a range of experiences. The Fruit Orchard and Food Forest will showcase a variety of fruit trees and food plants, and the community will be able to grow their own plants in the community gardens.

If you are searching for freehold shophouses, our Panel of Property agents and the mortgage consultants at icompareloan.com can help you with affordability assessment and promotional loans. The services of our mortgage loan experts are free. Our analysis will give industrial property loan seekers better ease of mind on interest rate volatility and repayments.

Just email our chief mortgage consultant, Paul Ho, with your name, email and phone number at paul@icompareloan.com for a free assessment.

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