A prime freehold corner four-story preservation shophouse at 240 Tanjong Katong Road is available to be purchased with a beginning cost of $8.8 million, advertising specialist PropNex said yesterday.
The property is completely involved, with the ground floor rented to a restaurant. As indicated by Urban Redevelopment Authority rules, no new restaurants are permitted on Tanjong Katong Road from Dunman Road to Mountbatten Road.
The 2,064 sq ft site is zoned "private with business on the primary story", with a permissible plot proportion of 3.0.
PropNex is offering the property through a shut offering exercise, as physical closeout occasions are right now not permitted in the midst of Covid-19 limitations on enormous get-togethers.
The property appreciates unmistakable facing on both Tanjong Katong Road and Parkstone Road, and is a 11-minute stroll from the forthcoming Tanjong Katong MRT station, which is relied upon to be finished in 2023.
Under the activity, all offers got before the end date will be made known to dealers and intrigued bidders.
PropNex head of corporate deals Clarence Goh said that under the shut offering framework, venders will realize that they are getting firm proposals from real purchasers, while bidders are told of contending offers, which makes the cycle straightforward.
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