A freehold, two-storey shophouse located at 24 Greenwood Avenue in the prestigious District 11 is currently on the market for $8.8 million. This particular unit, situated on the ground floor, is a strata unit with approval for restaurant usage, spanning a total area of 1,539 square feet. With an asking price of $5,718 per square foot on the total strata area, the unit is being marketed by Wilkie Tay and Richard Tan, directors of PropNex Shophouse Elites (PSE), the exclusive marketing agent. PSE has recently announced the launch of this property, and according to the company’s press release, the restaurant unit also has access to a 100 square feet outdoor dining area.
The shophouse is also a freehold property, which adds to its allure. The upper floor of the shophouse is designated for residential use and has a separate entrance through its own staircase.
Recent commercial transactions along Greenwood Avenue have shown evidence of increasing demand for properties in this area. Richard Tan, the founder of PSE, stated that the ground floor unit currently on sale is tenanted until mid-2026, and it will be sold with the existing tenancy agreement. This ensures an immediate source of rental income for the new owner. Tan also highlighted that the location of 24 Greenwood Avenue within the Hillcrest landed residential estate ensures a steady flow of foot traffic. Moreover, the shophouse is also in close proximity to notable schools such as National Junior College and Raffles Girls’ Primary School, and two supermarkets are located nearby.
The strata unit will be available for purchase through an Expression of Interest exercise, with the deadline set for November 15.