Three terraced freehold houses on Guillemard Road for sale at $10.8 mil

The freehold trio of terraced homes located at 90/92/94 Guillemard Road will be available for sale during the Auction by ERA Realty Network on the 27th of July. The second time that the houses are being offered for auction. The first time they were offered was on the ERA auction list in June.
The owner of three properties adjacent to each other has set a maximum approximate price for the three properties of $10.8 million. The three properties comprise two terraced houses with a corner as well as an intermediary unit. The houses are located on a 5,254 sq feet lot and the estimated cost is an average land value of $2,055 per sq ft.

Based on Alison Lee, assistant vice-president auctions and sales for ERA Realty Network, and the agent that is selling these properties, these properties are covered by two strata titles. One title is for the corner terraced house located at 90 Guillemard Road, and the second title is for the two units located at the 92 and the 94 Guillemard Road. However, the owner would like to sell both properties in a group Lee says Lee.

The two-storey terraced house is on a site that is zoned residential however the owner was able to obtain approval from authorities in order to transform the three units on the ground floor for F&B usage. The properties are fully rented and the units on the ground are being leased out to a dine-in restaurant as well as 2 takeaway restaurants.
“It is rare for houses with terraces in this region to get F&B Approval from F&B for floor-to-ceiling units. This makes these properties rare to purchase in this region,” says Lee.
The monthly rental for leasing all available space within these three structures, that comprises residential units on the upper floors is around $23,000, according to Lee. The buildings were also revamped and the exterior was renovated and brand new flooring tiles laid for each unit. The new system for exhaust was put in place to provide F&B-approved units with service.
“This is likely to draw investors who are looking to expand their portfolios by investing in an investment property that generates regular income for an extended period of time. The new owner won’t have to look for new tenants once they take possession,” says Lee.
The property is located on a 5,254 square foot area of land.
The listing has sparked interest from buyers who are interested According to Lee. Since the property was listed in the last month of June buyers will need time to think about their budgets, she says. The buyer’s interest is expected to rise in the days prior to the auction on July 27.
“The Guillemard Road area in Geylang is located close to the city’s centre and also sub-regional commercial hubs such as Paya Lebar. In addition, these properties are situated close to Mountbatten MRT Station on the Circle Line and are able to enjoy high connectivity to the roads,” says Lee. She also says that the nearness to areas of residential as well as the MRT station makes it possible for the area to enjoy an extremely high amount of foot traffic, which will be beneficial to F&B operators as well as investors.

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