# Rare trio of conservation shophouses in Serangoon up for sale at $33 mil - **Source:** EdgeProp Singapore - **Published:** 2026-09-10T06:00:00.000Z - **Author:** Ashley Lo - **Original:** https://www.edgeprop.sg/property-news/rare-trio-conservation-shophouses-serangoon-sale-33-mil - **Topics:** Commercial & Industrial, Transactions & Deals ## Featured rationale The offering signals potential spillover demand into District 8 as prices rise in established shophouse districts, which may support transaction activity and valuations along Serangoon Road. ## AI summary Three fully tenanted 999-year leasehold conservation shophouses at 482 Serangoon Road are offered at $33 million, or around $2,384 psf of estimated built-up area. ## Original article A trio of 999-year leasehold conservation shophouses at 482 Serangoon Road is up for sale via an expression of interest (EOI) exercise, with a guide price of $33 million. The shophouses sit on a 4,532 sq ft plot and have an estimated built-up area of 13,842 sq ft. Based on the built-up area, the guide price translates to around $2,384 psf. Spanning two-storeys, the shophouses also come with a six-storey rear extension and have a prominent main road frontage along Serangoon Road. Read also: Jalan Besar commercial conservation shophouse up for sale at $9.8 mil The assets are currently fully tenanted, said PropNex Shophouse Elites (PSE), the exclusive marketing agent for the shophouses. A vet clinic occupies the first storey, while gyms operate on the second and fifth floors and a commercial school runs a baking studio on the remaining floors. In 2006, the properties underwent an asset enhancement initiative to maximise the site’s allowable gross floor area, added PSE. The works included building upgrades, the installation of a passenger lift and the creation of a private car park. The shophouses feature concrete flooring, large floor plates and high ceilings, allowing for “ease of reconfiguration” to accommodate a wide range of commercial uses. These could include co-living spaces and student hostels, subject to the relevant authorities’ approval, said Richard Tan, founder of PSE. He expects the property to attract interest from both business occupiers and investors who have been “closely monitoring” Singapore’s conservation shophouse market. Located in the heart of Little India, the shophouses are within a seven- to nine-minute walk from Farrer Park and Boon Keng MRT stations. It is also near lifestyle and retail amenities at City Square Mall and Mustafa Shopping Centre. According to PSE, recent shophouse transactions suggest that investor appetite for conservation shophouses remains firm. Read also: Commercial conservation shophouse on Tras Street for sale at $15.6 mil Among the recent deals was a conservation shophouse along Serangoon Road, near Norris Road, which sits on a 1,229 sq ft site and fetched $9.8 million. Earlier, six adjoining freehold shophouses at 322 to 332 Serangoon Road, occupying a 9,042 sq ft plot, sold for $62.5 million in January 2023. PSE posits that prices in established shophouse districts, including Districts 1, 2, 7 and 15, have “risen significantly”, widening the price gap and driving increasing spillover demand into District 8, particularly along Serangoon Road. The EOI exercise will close on Oct 30 at 3pm. ## Chinese translation > Translation model: openai_codex_cli ### Serangoon 罕见三栋保育店屋以新币3300万元出售 这些店屋坐落于一幅4,532平方英尺的地块上，估计建筑面积为13,842平方英尺。 位于 482 Serangoon Road 的三栋999年租赁产权保育店屋正通过意向书（EOI）方式出售，指导价为新币3300万元。 这些店屋坐落于一幅4,532平方英尺的地块上，估计建筑面积为13,842平方英尺。按建筑面积计算，指导价相当于约每平方英尺新币2,384元。 这些店屋横跨两层，并配有六层后方扩建部分，在 Serangoon Road 沿线拥有显眼的主路临街面。 另请阅读：Jalan Besar 商业保育店屋以新币980万元出售 独家营销代理 PropNex Shophouse Elites（PSE）表示，这些资产目前已全数出租。一家兽医诊所占用一楼，健身房在二楼和五楼运营，一所商业学校则在其余楼层经营烘焙工作室。 PSE 补充说，2006年，这些物业进行了资产提升工程，以最大化该地块可允许的总楼面面积。工程包括建筑升级、安装客用电梯以及打造私人停车场。 这些店屋配有混凝土地面、大面积楼层空间和高天花板，可“轻松重新配置”，以容纳广泛的商业用途。PSE 创办人 Richard Tan 表示，这些用途可包括共居空间和学生宿舍，但须获得相关当局批准。 他预计，该物业将吸引一直“密切关注”新加坡保育店屋市场的商业自用者和投资者的兴趣。 这些店屋位于小印度中心地带，距离 Farrer Park 和 Boon Keng 地铁站步行七至九分钟。物业也靠近 City Square Mall 和 Mustafa Shopping Centre 的生活与零售配套设施。 PSE 表示，近期店屋交易显示，投资者对保育店屋的胃纳仍然稳健。 另请阅读：Tras Street 商业保育店屋以新币1560万元出售 近期交易包括 Serangoon Road 沿线、靠近 Norris Road 的一栋保育店屋，该物业坐落于1,229平方英尺地块上，以新币980万元成交。 更早之前，位于 322 至 332 Serangoon Road 的六栋相邻永久地契店屋，占地9,042平方英尺，于2023年1月以新币6250万元售出。 PSE 认为，包括第1、2、7和15邮区在内的成熟店屋区价格已“显著上涨”，扩大了价格差距，并推动越来越多外溢需求流入第8邮区，尤其是 Serangoon Road 沿线。 意向书活动将于10月30日下午3时截止。