The property is fully occupied, with the ground floor leased to an eatery

With $8.8 million starting price Tanjong Katong conservation shophouse

SINGAPORE – A prime estate, corner four-storey conservation shophouse at 240 Tanjong Katong Roadway is up for sale with a beginning cost of $8.8 million, marketing representative PropNex claimed on Friday (Aug 21).

The 2,064 sq ft site is zoned “domestic with industrial on the very first floor”, with an allowable plot proportion of 3.0.

The residential or commercial property is completely occupied, with the ground floor rented to an eatery. According to Urban Redevelopment Authority standards, no new dining establishments are admitted Tanjong Katong Road from Dunman Roadway to Mountbatten Roadway.

The residential property like OLA EC, Parc Clematis, and various others appreciates popular frontage along both Tanjong Katong Roadway as well as Parkstone Roadway, and is an 11-minute stroll from the upcoming Tanjong Katong MRT terminal, which is expected to be finished in 2023.

PropNex is supplying the home with a shut bidding process exercise as physical auction events are currently not allowed amid limitations on big celebrations to suppress the spread of Covid-19. Under the exercise, all offers obtained before the closing date will be made known to the sellers as well as interested prospective buyers.

PropNex head of corporate sales Clarence Goh said that under the shut bidding system, sellers will certainly understand that they are getting firm offers from authentic customers, while prospective buyers are notified of completing offers, that makes the procedure clear.

Submissions under the closed bidding exercise have to be submitted by Aug 25 at 3pm at Level 11, HDB Center East Wing.