Last week, we shared about two rare dual-floored shophouses in Joo Chiat that came on the market for under S$20 million, both approved for F&B use and still available. Now, another interesting opportunity has surfaced – this time in Serangoon Garden. A corner shophouse along Maju Avenue is up for sale at S$10.8 million, offering a long lease tenure and strong investment potential. If you’ve been searching for a commercial unit that combines visibility, flexibility, and lasting value, this one is worth a closer look.
Table of contents
- Property details
- Location highlights
- Investment potential and usage possibilities
- Market expectation
Property details
| Property type | 2-storey commercial shophouse (corner unit) |
| Address | 28/28A Maju Avenue, Serangoon Garden, District 19 |
| Tenure | 999-year leasehold |
| Asking price | S$10.8 million |
| Land area | 1,897 sqft |
| Built-up area | 3,500 sqft (includes five-footway and open terrace) |
| Price PSF (Built-up) | S$3,086 psf |
| Vacancy status | Sold with vacant possession |
| Investment highlights | No ABSD, no GST, limited supply (only 69 commercial shophouses in Serangoon Garden) |
| EOI closing date | October 1 |
The property in question is a 999-year leasehold Serangoon Garden shophouse for sale at 28/28A Maju Avenue. It is currently being offered through an Expression of Interest (EOI) exercise by PropNex Shophouse Elites, under PropNex Realty.
This two-storey commercial corner unit stands prominently at the junction of Maju Avenue and Portchester Avenue in District 19. With a land size of 1,897 sqft and a built-up area of around 3,500 sqft, which also includes a five-footway and open terrace, it offers plenty of usable space.
At the asking price of S$10.8 million, the cost works out to roughly S$3,086 per square foot (psf) on the built-up area. Moreover, you won’t need to deal with existing tenants, as the shophouse will be sold with vacant possession. That makes it easier for you to plan and reposition the space quickly after purchase.
If you’re interested, note that the EOI exercise will be closing on October 1.
Location highlights
When it comes to location, this Maju Avenue shophouse for sale sits right in the middle of a lively and established commercial cluster. Serangoon Garden is one of Singapore’s most well-loved neighbourhoods, famous for its vibrant dining scene and charming village-like atmosphere. By owning a property here, you place yourself in the heart of a hub that blends F&B, retail, and lifestyle offerings all in one place.
What makes the setting even more attractive is the mix of low-rise landed housing surrounding the estate. Unlike other commercial districts where high-rise buildings dominate, the open views in Serangoon Garden allow businesses to stand out more easily. In addition, this shophouse’s corner placement at a busy road junction gives it maximum exposure, catching the eye of both pedestrians and drivers as they pass. This naturally helps ensure steady footfall throughout the day.
The neighbourhood is also rich in amenities that keep traffic flowing to the area. Just a short walk away, you’ll find the famous Chomp Chomp Food Centre, a destination that draws food lovers from all across Singapore. The Serangoon Gardens Market offers daily conveniences, while the Serangoon Gardens Country Club provides leisure options for nearby residents. Families, too, find the location appealing because of the International French School, which sits close by and attracts a strong expatriate community.
All of these factors combine to make Serangoon Garden more than just a dining and retail spot. It’s a destination where locals and expatriates gather, dine, shop, and unwind. For you as an investor or business owner, this translates to a consistent flow of visitors and long-term stability for any business set up within the shophouse.
All these amenities contribute to a steady stream of visitors passing through the neighbourhood.
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Investment potential and usage possibilities
According to Neo Beng Lee, director at PropNex Realty, the shophouse benefits from consistent foot traffic throughout the day. That kind of visibility makes the property especially versatile, giving you many directions to take when deciding how to use the space.
For instance, the ground floor is well-suited for businesses that thrive on walk-in customers. You could turn it into a grab-and-go F&B outlet that caters to the lunch and dinner crowd, or even set up a bar that draws in the evening and weekend crowd. Another idea is a cloud kitchen, which taps into the growing demand for food delivery services. If your focus is more on family-oriented services, the space could also house a childcare centre, which would appeal to young families in the neighbourhood. On the other hand, a medical or veterinary clinic could serve both residents and pet owners, as long as the necessary approvals are secured.
Meanwhile, the top floor offers a quieter environment, making it perfect for education-based businesses. You could consider setting up an enrichment centre, such as one offering language, music, or art classes, which would draw steady demand from families in the area. Alternatively, a commercial school could take advantage of the strong residential base nearby, ensuring a regular flow of students.
Beyond the flexibility of use, the sale also comes with investment-friendly advantages. There is no Additional Buyer’s Stamp Duty (ABSD) to worry about, and buyers don’t have to pay GST either. These savings can make a big difference, especially for investors comparing options across different property types. Adding to the appeal is the fact that shophouses in Serangoon Garden are extremely rare – there are only 69 commercial shophouses in the entire estate. This limited supply means any purchase here comes with a built-in scarcity value, which helps preserve long-term demand and adds to the property’s attractiveness as an investment.
Market expectation
With its 999-year lease, prominent corner location, and scarce supply, this Serangoon Garden shophouse for sale at S$10.8M is widely expected to draw strong attention. Opportunities like this rarely appear on the market, so both institutional and private investors are likely to give it serious consideration.
For institutional buyers, the long lease tenure and steady footfall make it a solid asset to hold for the long term. At the same time, private investors, whether local or foreign, may see it as a chance to diversify their portfolio with a property that is stable yet flexible in terms of usage. In particular, overseas buyers often value Singapore for its safe investment climate, clear regulations, and steady demand for commercial spaces. This shophouse, with no ABSD or GST on the sale, only enhances that appeal.
From your perspective as a potential buyer, this also means competition could be strong. A corner shophouse for sale in such a popular estate, surrounded by landed housing and well-known amenities, is not something you come across often. The limited stock of just 69 commercial shophouses in Serangoon Garden adds to the exclusivity, making each listing highly sought after.
If you’ve been waiting for the right moment to secure a 999-year shophouse for sale in a mature estate with both foot traffic and long-term growth potential, this Maju Avenue property could represent exactly that. Its combination of visibility, rarity, and investment-friendly terms positions it as a standout opportunity in today’s property market.
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