Prime Freehold Corner F&B unit up for sale: CBRE

The unit is located at 2 Greenwood Avenue.

A corner freehold ground floor F&B unit at 2 Greenwood Avenue is up for sale, CBRE reported.

The property has a guide price of $16. CBRE noted the property may also be purchased by eligible foreigners without being subjected to the Additional Buyer’s Stamp Duty, or Seller’s Stamp Duty.

“Within the entire Hillcrest planning subzone of the Bukit Timah planning area, only a small pocket of 27 shophouses are zoned for commercial use on the ground floor,” Clemente Lee, Executive Director, Capital Markets, Singapore at CBRE, said.

“With the Urban Redevelopment Authority (URA) no longer permitting new F&B approval in the area, units with restaurant approval are extremely scarce. As such, we expect strong interest from local and foreign high net worth individuals, family offices and F&B operators for this prime asset.”

According to CBRE, the property is strategically located in the densely populated affluent residential estate and established educational institutions, such as Raffles Girls’ Primary School, National Junior College, Nanyang Girls’ High School, Hwa Chong Institution and Hwa Chong Junior College.

It also a short distance from the Tan Kah Kee MRT station on the Downtown Line. It may also be accessed through the Pan-Island Expressway, and Central Expressway.

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