221 RANGOON ROAD – FREEHOLD TWO-STOREY SHOPHOUSE WITH DEVELOPMENT POTENTIAL
SINGAPORE, Sept. 19, 2024 /PRNewswire/ -- Brilliance Capital Pte. Ltd. is excited to offer a unique investment opportunity: a freehold two-storey shophouse located at 221 Rangoon Road, for sale via an Expression of Interest (EOI). This well-positioned property features an F&B-approved ground floor currently tenanted to an established restaurant, and well tenanted for residential use on the 2nd floor, providing investors with an immediate rental income stream. The first storey is primed for food and beverage use, offering premium rental rates due to its prime location. The property promises a unique blend of historical charm and modern investment appeal in one of Singapore's most vibrant districts.
The 221 Rangoon Road property, positioned in the heart of a bustling neighborhood, is surrounded by rich heritage and an eclectic mix of retail, dining, and cultural landmarks. The locale offers seamless connectivity, being just minutes away from Farrer Park MRT Station, and its' proximity to Mustafa Centre and City Square Mall enhances its appeal, attracting a steady flow of visitors and customers to the area. Additionally, the nearby Connexion enhances the area's footfall with its healthcare and hospitality services, further increasing the property's business potential. The surrounding district, rich in cultural landmarks and culinary offerings, offers the perfect backdrop for businesses looking to benefit from the energetic environment.
The property sits on a freehold tenure, making it a highly coveted asset with long-term value in Singapore's competitive real estate market. The land area is approximately 2,145 sq ft with a total built-up area of approximately 3,347 sq ft. Zoned "Residential" with a gross plot ratio of 3.0 under the 2019 Master Plan, it also presents redevelopment potential, offering investors and owner-occupiers the opportunity to significantly enhance its value, and enjoy the upside for future growth and value maximization.
The shophouse stands at the gateway to the Historic District of Little India, an area undergoing a significant rejuvenation and transformation. With new urban development projects set to modernize the district while preserving its cultural legacy, this location is poised to become an even more vibrant commercial and residential hub. The property's connection to this rapidly transforming district adds to its' long-term investment appeal, offering substantial growth potential as the area evolves. In addition, the development potential makes it suitable for a variety of uses, including F&B, retail, or residential redevelopment.
Ms. Sammi Lim, Founder and Executive Director of Brilliance Capital Pte Ltd, said: "Based on the guide price of S$8.88 million, this offering is not only palatable but presents a tremendous value proposition for a diverse range of buyers. We anticipate strong interest from co-living operators, boutique developers, and family offices looking to diversify and enhance their portfolio with a rare freehold asset. Freehold properties remain highly coveted for their enduring value, long-term capital appreciation potential, and investment security.
In particular, the property's freehold tenure makes it an ideal land banking opportunity, providing buyers with the chance to hold a prime asset in Singapore's highly competitive real estate market while waiting for the right time to unlock its full redevelopment potential.
Furthermore, with its strategic location and vibrant surroundings, 221 Rangoon Road offers investors an exceptional opportunity to capitalize on the growing demand for properties in the heart of Singapore's bustling Central Region. The unique mix of heritage charm and redevelopment potential makes this asset an attractive option for forward-thinking investors, allowing them to tap into future growth and enjoy immediate rental income."
Brilliance Capital is the sole marketing agent for this Expression of Interest.
The Expression of Interest closes on 23 October 2024, Wednesday at 3.00 p.m.
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Note to editors:
A high-resolution photograph of 221 Rangoon Road is enclosed.
About Brilliance Capital Pte. Ltd.
Brilliance Capital is a premier real estate agency specializing in bespoke advisory and transaction services for high-net-worth individuals, family offices, property developers, and institutions in Singapore and globally.
Founded and led by Sammi Lim, our team of top-tier professionals excels in selling and leasing luxury residential, commercial, and industrial properties, as well as collective sales. We also offer tailored consultancy and advisory services, addressing personal, professional, and investment needs with precision and care.
Backed by deep market insight and a robust international network, Brilliance Capital is dedicated to building lasting relationships and delivering exceptional real estate outcomes.
SOURCE Brilliance Capital
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