PropNex Shophouse Elites (PSE) has recently launched the sale of a ground floor strata unit in a freehold two-storey shophouse located at 24 Greenwood Avenue in prime District 11. The unit has an asking price of $8.8 million and covers a total strata area of 1,539 square feet, which translates to a price of $5,718 per square foot.
The exclusive marketing agent for this property is Wilkie Tay and Richard Tan, directors at PSE. The unit is currently approved for use as a restaurant and also includes a 100 square foot outdoor dining area, as stated in a press release by PSE.
The upper floor of the shophouse is designated for residential use and has a separate entrance accessible by a staircase. Recent commercial transactions in the area have shown strong demand for shophouses, especially in the Greenwood Avenue vicinity.
According to Richard Tan, the founder of PSE, the ground floor unit is currently leased until mid-2026 and will be sold with the existing tenancy. This provides the new owner with immediate rental income. Tan also highlights the high foot traffic in the area due to its location within the Hillcrest landed residential estate, as well as its proximity to schools such as National Junior College and Raffles Girls’ Primary School. Two supermarkets are also situated nearby.
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The strata unit will be available for sale through an Expression of Interest exercise with a closing date of November 15.