Freehold Shophouse at 129 Upper Paya Lebar Road

27 February 2024

Freehold Shophouse at 129 Upper Paya Lebar Road
Photo of 129 Upper Paya Lebar Road (Source: Huttons Asia)

A freehold corner shophouse at 129 Upper Paya Lebar Road is up for sale via an expression of interest (EOI) exercise at a guide price of $8.8 million. The built-up area of the property excluding the open roof terrace is approximately 3,089 sq ft.

The property is a short walk to Tai Seng MRT station and is zoned residential with commercial at 1st storey. It has been strata titled into 2 separate titles, 129 and 129A Paya Lebar Road.

The shophouse has a prominent frontage and enjoys high visibility from Upper Paya Lebar Road. The 1st storey has a permanent Restaurant approved usage and there is a substantial outdoor refreshment area (ORA). Access to the upper level is via a separate staircase at the side of the shophouse.

Jeremy Lim, Executive Group District Director at Huttons Asia notes that there is high human traffic and lunch crowd from the nearby industrial and commercial buildings. Over the years there have been numerous condominiums in the Bartley area adding to the demand for F&B restaurants. Developments at Bidadari have also significantly contributed to vibrant businesses along Upper Paya Lebar.

“129 Upper Paya Lebar Road is situated approximately 420 metres away from Tai Seng MRT, providing easy accessibility to the property via public transport and there is ample car park lots around the property. The rejuvenation of Defu Industrial Estate will create 2.1 million sq m of industrial space for the logistics, precision engineering and biomedical sectors. This would ramp up the demand for F&B shops in the area,” says Geraldine Teh, Associate Division Director of Huttons Asia.

“Shophouses along the Upper Paya Lebar Road stretch are seldom available for sale. The attractive price quantum of below $10 million should appeal to many investors. Investors can ride on the future rejuvenation of Defu Industrial Estate,” Mr Lee Sze Teck, Senior Director of Data Analytics concluded.

The EOI exercise will close on 28th March 2024 at 4pm.

– EDM –

For further information, please contact:

Jeremy Lim, Associate Executive Group District Director, R017809A
Tel: +65 8858 1212 | [email protected]
Huttons Asia Pte Ltd (Licence No: L3008899K)

Geraldine Teh, Associate Division Director, R056914G
Tel: +65 9731 1778 | [email protected]
Huttons Asia Pte Ltd (Licence No: L3008899K)