# Shophouse with 999-year leasehold tenure in Serangoon Garden up for sale at $10.8 mil

- **Source:** EdgeProp Singapore
- **Published:** 2026-09-07T11:19:31.000Z
- **Author:** Atiqah Mokhtar
- **Original:** https://www.edgeprop.sg/property-news/shophouse-999-year-leasehold-tenure-serangoon-garden-sale-108-mil
- **Topics:** Private Residential, Commercial & Industrial, Transactions & Deals

## Featured rationale

Limited supply of 69 commercial shophouses, strong footfall and the absence of ABSD and GST may support investor interest in this property.

## AI summary

A 999-year leasehold Serangoon Garden shophouse is offered at $10.8 million, or $4,154 psf, generating around $20,000 in monthly rent.

## Original article

A 999-year leasehold shophouse located in the Serangoon Garden area has been put up for sale through an expression of interest (EOI) exercise.

The two-storey commercial property has a guide price of $10.8 million. This translates to $4,154 psf on its total built-up area of around 2,600 sq ft, which includes the five-foot way.

The ground floor of the shophouse is leased to an F&B establishment, while a fitness studio rents the upper floor. Altogether, the shophouse generates around $20,000 per month in rent, according to Neo Beng Lee of PropNex Shophouse Elites, a unit under PropNex Realty.

Read also: North Canal Road shophouse, Handy Road strata commercial unit for sale at $16.8 mil and $6 mil

The property, located in the established Serangoon Garden landed estate, enjoys strong footfall, said Neo. “With no additional buyer’s stamp duty or GST applicable to the sale, and a limited supply of only 69 commercial shophouses in Serangoon Garden, we expect strong interest from both institutional and private investors — local and foreign alike,” he added.

The shophouse is part of a cluster of commercial properties in the Serangoon Garden area, comprising shophouses on Serangoon Garden Way, Maju Avenue and Kensington Park Road, along with retail mall myVillage. The cluster is also close to Chomp Chomp Food Centre and Serangoon Garden Market.

The latest shophouse transaction in the area was the sale of a 999-year leasehold property on a 2,146 sq ft site on Serangoon Garden Way in June. The two-storey shophouse, which is fully leased to Japanese restaurant Sushi Tei, fetched $15 million.

The transaction represents the highest sum paid for a single shophouse in Serangoon Garden estate, based on lodged caveats. It beat the previous high of $14.85 million set in December 2020 with the sale of another 999-year leasehold shophouse on Serangoon Garden Way.

However, the area’s biggest shophouse transaction by absolute sum was the sale of two adjoining shophouses on Serangoon Garden Way for $17.49 million in May 2023. The 999-year leasehold properties occupy a total land area of 3,101 sq ft.

The EOI will close at 3pm on Oct 16.

END

## Chinese translation

> Translation model: grok_cli

### 实龙岗花园999年地契店屋以新币1080万元挂售

该店屋一楼租予餐饮商户，楼上则由一家健身工作室承租。

实龙岗花园一带一栋999年地契店屋，已通过意向书征集（EOI）程序挂牌出售。

这栋两层楼商业物业的指导价为新币1080万元。按约2600平方英尺的总建筑面积（含五脚基）计算，相当于每平方英尺新币4154元。

该店屋一楼租予餐饮商户，楼上则由一家健身工作室承租。据房产净房地产（PropNex Realty）旗下单位PropNex Shophouse Elites的Neo Beng Lee表示，该店屋合计每月租金收入约新币2万元。

另读：北运河路店屋、Handy Road分层商业单位分别以新币1680万元和600万元挂售

Neo表示，该物业位于成熟的实龙岗花园有地住宅区，客流量充足。他补充说：“此次出售不适用额外买方印花税（ABSD）或消费税（GST），而实龙岗花园仅有69间商业店屋、供应有限，我们预计机构和私人投资者——无论本地还是外资——都会表现出浓厚兴趣。”

该店屋属于实龙岗花园一带的商业集群，包括Serangoon Garden Way、Maju Avenue和Kensington Park Road上的店屋，以及零售商场myVillage。该集群也靠近Chomp Chomp熟食中心和实龙岗花园巴刹。

该区最近一宗店屋交易是6月Serangoon Garden Way一处占地2146平方英尺的999年地契物业售出。这栋两层楼店屋全部租予日本餐厅Sushi Tei，成交价为新币1500万元。

根据已登记警告书，该交易创下实龙岗花园地区单栋店屋成交价最高纪录，超过了2020年12月Serangoon Garden Way另一栋999年地契店屋创下的新币1485万元前高。

不过，以绝对金额计，该区最大的店屋交易是2023年5月Serangoon Garden Way两栋相邻店屋以新币1749万元售出。这两栋999年地契物业占地总面积为3101平方英尺。

此次意向书征集将于10月16日下午3时截止。

完