Freehold Geylang Road Shophouse Snapped Up Before Auction for S$6.4M

The option to purchase has already been issued to the buyer, says Sharon Lee, Knight Frank Singapore’s executive director of auction and sales. The property was initially slated to go under the hammer at Knight Frank’s auction on May 21.

Offered as an owner’s sale, the property carried a guide price of S$6.4 million, or S$2,766 psf based on its floor area of about 2,314 sq ft. Caveats lodged indicate that the property last changed hands for S$975,000 in November 2006.

According to Lee, the property was previously leased to a karaoke lounge operator but is currently untenanted. Based on its previous rental rates, and subject to approval for the renewal of its use as a karaoke lounge, she estimates that the asset could generate a rental yield of over 3.5%.

The property occupies a land area of approximately 1,503 sq ft. Zoned for commercial use with a plot ratio of 3.0, the shophouse could potentially be redeveloped with a rear extension of up to five storeys, subject to the relevant authorities’ approval, adds Lee.

Located on Geylang Road, the shophouse has “excellent” visibility and footfall given its frontage along the main road, she notes. About a five-minute walk away is Paya Lebar MRT Station, as well as the Paya Lebar Quarter and Paya Lebar Square mixed-use developments, which include office towers, residences and malls. Both local and foreign buyers are eligible to purchase the property, and no additional buyer’s stamp duty is payable.

The most recent commercial shophouse transaction within the Geylang Conservation Area, going by caveats lodged, involved another property along Geylang Road. Sitting on a 1,323 sq ft freehold plot, the shophouse was sold for S$5.95 million in February 2025.

Before that, in December 2024, a freehold shophouse with a land area of 1,582 sq ft on Lorong 24A Geylang changed hands for S$3.51 million.

Also in 2024, a trio of adjoining Geylang Road shophouses, with a combined land area of about 4,319 sq ft, fetched S$18.68 million in February of that year. The freehold properties were sold by civil engineering firm Shincon Industrial to Abiel Property Investment Group.