Binjai Park shop with 999-year leasehold tenure on the market for $4.4 mil

A strata-titled commercial unit in Binjai Park has been launched for sale through an expression of interest (EOI) exercise at a guide price of $4.4 million.

The ground-floor unit has a 999-year leasehold tenure and spans a strata area of around 1,388 sq ft, which means the price works out to $3,170 psf. The unit is part of a three-storey walk-up shophouse that includes residential units on the upper floors.

The walk-up sits along a row of similar shophouses in the Binjai Park residential enclave in Bukit Timah. It is within walking distance of the King Albert Park MRT Station on the Downtown Line.

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The unit up for sale is currently tenanted, according to Huttons Asia, which is handling the sale.

Yeo Khee Liang, associate senior marketing director at the firm, says that commercial units in the Binjai Park estate are rare. “Only around 16 such units are available within the area.”

As a result, he anticipates the property to appeal to a diverse range of buyers. “We expect strong interest from investors and family offices, as well as owner-occupiers such as boutique operators and wellness or education businesses looking for a foothold in this enclave.”

Based on caveats lodged, the last commercial unit to change hands along Binjai Park was a 1,335 sq ft, strata-titled shop that fetched $3.85 million, or $2,884 psf, in November 2024.

Lee Sze Teck, Huttons’ senior director of data analytics, notes that the shophouse segment “continues to attract wealth, underpinned by favourable interest rates, constrained supply and foreign ownership regulations elsewhere in the property market”.

He expects shophouse valuations to be “well-supported over the long term”.

The EOI exercise will close at 3pm on Nov 2.

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