Phoenix road, an exotic name for a street in Bukit Panjang. But perhaps from the ashes, a Phoenix will rise once more as a row of shophouses here are going en bloc for $42 million in a public tender.
Teck Whye Lane, HDB. Picture: iProperty
Phoenix road shophouses to go en bloc for $42 million
This is the first time the owners of these shophouses are attempting a collective sale. The site on which the properties sit has a 99-year leasehold tenure starting from Jan 1, 1969.
At the moment, the 2 blocks of 3-storey shophouses consist of 24 apartments, 12 commercial shops.
All 36 units range from 83 sq m to 91 sq m in size and the site is zoned for residential use.
Should the sale be successful, each owner will receive between $1 million to $1.5 million. The site has a gross plot ratio of 1.4 and can be redeveloped to potentially yield 84 new homes of an average size of 950 sq ft each.
Area quiet but with sufficient amenities and transport options
The area is near the upcoming Phoenix LRT station and is not also not far from Bukit Panjang MRT station on the Downtown line and the Bukit Panjang Bus Interchange.
The Ten Mile Junction shopping mall, Hillion Mall and Bukit Panjang Plaza are in the vicinity as well and the road is a quiet street that connects with Choa Chu Kang road.
See more: Secret Garden of the NorthWest: Bukit Panjang
Hillion Residence. Picture: iProperty
There are already some private condominiums nearby such as Hillsta and Hillion Residences but the lack of new launches in this area in recent years may pique developers’ interest in the site.
It is located just by the Kranji Expressway, The Bukit Timah Expressway and the Pan-Island Expressway. The Tuas Checkpoint is also just a 20-minute drive away.
The area is close to a few international schools such as Dulwich College or the German European School Singapore and thus could have some good developmental potential.
Investors looking for long-term investments or owner-occupiers who are looking for tenancy options in future could benefit from keeping an eye on real estate activity here.
See more: All good to go for Goodluck Garden en bloc sale
