A 2-STOREY inner terrace shophouse at Serangoon Garden Way has been launched for sale at a guide price of S$9.68 million, the property’s marketing agent JKL Consultants announced on Friday (Aug 19).

Estimated to have been built in 1960, the shophouse has a 999-year lease from Jan 1, 1957 and is eligible for purchase by foreigners. Its land size and built-up size are 1,503 square feet (sq ft) and 2,422 sq ft respectively.

The shophouse has not been gazetted for conservation, which means more flexibility in future designs and renovations, JKL said. Its tenants are a medical clinic and a baking studio, with a monthly rate of S$16,500 and tenancy expiring in 2025.

There have only been 3 shophouse transactions in Serangoon Garden in 2021 and 2022, out of which 2 were for the same property, JKL said. “To the new owner, this shophouse is a collector’s piece and befitting a family heirloom to be passed on to the future generations,” it added.