Keong Saik unit offered for $4.1m as tenancy nears end

Buyers can continue the tenancy or take back the unit for their own use.

A 999-year-tenure commercial unit at 2A Keong Saik Road is up for sale at a guide price of $4.1m, with the Expression of Interest exercise closing on 6 October at 3 p.m.

Brilliance Capital, the exclusive marketing agent, said the property has a total floor area of about 1,152 square feet (sq ft), comprising a main lot of about 1,001 sq ft and a stairway of about 151 sq ft.

The property is located in Chinatown, within the Bukit Pasoh Conservation Area, and is zoned Commercial under the URA Master Plan.

The unit occupies a second-storey walk-up position within a four-storey commercial development, with shops on the first storey and commercial units on the upper floors.

“The existing tenancy is due to expire towards the end of this year, giving purchasers the flexibility to either continue the tenancy for rental income or take back the unit for their own use or value-add repositioning,” the real estate agency said.

The property has a 999-year lease, with effect from 1 December 1967. As a commercial property, it is not subject to Additional Buyer's Stamp Duty.

“2A Keong Saik Road offers investors a rare combination of heritage character, long lease tenure and an accessible investment quantum,” said Sammi Lim, Founder and Executive Director of Brilliance Capital.

She added that the property's commercial zoning allows for alternative uses including wellness and fitness concepts, private dining, retail, and creative studios, subject to approval from the relevant authorities.

The unit is near Maxwell, Outram Park, Tanjong Pagar, and Chinatown MRT stations. It is also connected to the Ayer Rajah Expressway, Central Expressway, and Marina Coastal Expressway, with the central business district nearby.