The second-floor unit of a two-storey freehold corner shophouse at 31A Lorong Mambong has been listed for sale at a guide price of $9.6 million, with CBRE as the marketing agent. Based on a caveat lodged in December 2016, Tuppani paid $4.6 million ($2,006 psf) for the 2,923 sq ft unit. A property title search shows that the unit at 31A Lorong Mambong is held by the late Spencer Tuppani, a businessman who was stabbed to death by his father-in-law, Tan Nam Seng, along Boon Tat Street on July 10, 2017. Tuppani was 38 when he died.

The unit is zoned as ‘commercial’ and is currently tenanted to Anytime Fitness, offering immediate rental income. Alternatively, the unit can be converted into a hotel, serviced apartment or backpackers’ hostel, subject to approval from the relevant authorities.

The shophouse is within a short walk of the Holland Village MRT Station on the Circle Line and the bus stop in front of Holland Road Shopping Centre.

Recent shop unit and shophouse transactions in Holland Village (Source: EdgeProp Landlens)

According to Clemence Lee, CBRE executive director of capital markets, Singapore, there are only 66 commercial shophouses in Holland Village in prime District 10. These shophouses are mainly freehold and clustered along Lorong Mambong and Lorong Liput.

“Holland Village is a popular F&B lifestyle destination that offers a wide variety of F&B and retail options, for instance, Little Farms Market, Crystal Jade Hong Kong Kitchen, Birds of Paradise Gelato Boutique, Lola’s Cafe, Tai Cheong Bakery, and Two Men Bagel House are in the neighbourhood,” says Lee.

Astute investors understand the rarity of such palatable freehold shophouse units, which are typically tightly held and rarely available for sale. He adds that Holland Village is a popular F&B lifestyle destination that offers a wide variety of F&B and retail options.

The shophouse unit at 31A Lorong Mambong is for sale by expression of interest, which will close on Feb 3. The $9.6 million asking price translates to $4,187 psf based on the unit area of 2,923 sq ft. The eclectic charm of Holland Village is evident in its diverse range of shops and restaurants, making it a popular destination for locals and tourists alike.

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Cheong Sim Lam, a businessman, recently purchased a shophouse on Lorong Mambong for $17.2 million, showcasing the high value and demand for properties in this area.

Holland Drive Condo is a sought-after location, known for its vibrant and lively atmosphere. The shophouse at 31A Lorong Mambong is a prime example, as it offers a wide range of potential for investors. With its commercial zoning, the unit can be converted into various business opportunities, from fitness centres to hotels, subject to approval.

In addition to its diverse business options, the shophouse is also conveniently situated near public transportation, making it easily accessible for visitors. This adds to its appeal and potential for high rental income.

The asking price of $9.6 million for this shophouse is reflective of the high demand and rarity of such freehold properties in Holland Village. Investors and businesses looking to secure a prime location in this bustling neighbourhood should not miss out on this opportunity.

Don’t wait, as the expression of interest period will close on Feb 3. With its prime location and potential for profitable business ventures, this shophouse at 31A Lorong Mambong is a valuable investment opportunity not to be missed.