Two-storey shophouse at 532 Balestier Road up for sale via EOI

The property has a guide price of $8m.

CBRE announced the sale of a two-storey corner shophouse at 532 Balestier Road via an expression of interest (EOI).

Situated on the city fringe, the property is near commercial and lifestyle establishments such as retail shops, eateries, residential apartments, malls, hotels, and industrial buildings.

It is also connected to major transportation networks such as Thomson Road, the Central Expressway (CTE), the Pan-Island Expressway (PIE), and the Novena MRT station.

Zoned “Commercial & Residential,” the property spans 2,428 sq ft and has an existing gross floor area (gfa) of 2,770 sq ft. With a gross plot ratio of 3.0, the property’s gfa has a potential expansion of up to 7,285 sq ft.

The property has a guide price of $8m, or $2,888 per square foot whilst the land rate is $1,098 per plot ratio.

Both floors are approved for commercial use and are currently occupied by a lighting showroom.

The EOI will close on 15 August, 3 pm.

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