Auctionjia puts up rare freehold Stanley Street shophouse for sale

December 11, 2018 - 03:39
Auctionjia puts up rare freehold Stanley Street shophouse for sale

SINGAPORE- Media OutReach - 6December 2018 - Auctionjia, alocal O2O (online-to-offline) real estate agency that combines real estatebroking services with an online auction platform, has put up a rare freeholdshophouse at 28 Stanley Street for sale.

Convenientlylocated a stone's throw away from Telok Ayer MRT station in the heart of theCentral Business District (CBD), the four-storey conservation shophouse with aroof terrace balcony occupies a land area of 1,729 square feet with a grossfloor area of about 6,485 square feet.

Theproperty is also easily accessible by major expressways including the MarinaCoastal Expressway and Central Expressway.

AuctionjiaCo-Founder and Director Jessie Low said: "Shophouses have always been highlysought-after for their heritage charm and scarcity. We believe the freeholdtenure of this Stanley Street shophouse and its excellent location will provideattractive rental yields and potential for long-term capital appreciation."

The TelokAyer Conservation Area has undergone gentrification in recent years and seen aflourishing of F&B, entertainment and lifestyle establishments that servethe many offices located in the CBD.

Theground floor of 28 Stanley Street is currently leased to a café selling healthyand organic food, while the third and fourth floors are leased to a corporateservices provider. The second storey is vacant with potential to house anotherrestaurant.

As theproperty sits on land zoned for commercial use, foreigners are eligible to buyand there is also no Additional Buyer's Stamp Duty or Seller's Stamp Duty to bepaid.

Auctionjiais inviting offers through an expression of interest exercise which closes at
3 pm on 12 December 2018.

The firmwas launched slightly over a year ago to provide buyers and sellers ofproperties with an option for an online auction which it believes is a faster,more cost-effective and transparent way of transacting real estate. The processallows buyers and sellers to see all bids and create competitive tensionbetween bidders.

Auctionjiaalso provides a state-of-the-art three-dimensional virtual tour for all itslisted properties. Prospective buyers can have a virtual walkthrough of theproperties from the comfort of their homes. The online auctions are typicallyheld over a few days on Auctionjia's website, and only verified participantscan submit their bids.

Over thepast year, Auctionjia has been expanding by hiring highly experienced agentsand broadening its services to cover rentals, private treaty and auction salesof private residential, commercial and HDB units. It has since sold 11properties on its website, with sellers benefiting from lower commissions, freevirtual tours, social media marketing, and genuine buyers on its platform.

Auctionjiawas founded by Jessie Low, a veteran commercial and private banker, GalvinChong, an experienced property agent of 18 years, and Jeffrey Tay, a veteran ofport operations with eight years' property agent experience. William Low,currently working in the finance industry, serves as Non-Executive Director.

The ideafor Auctionjia was borne out of many frustrating experiences Mr Low encounteredwhen he was scouring the market for his first home. He found the process ofsearching through property listing websites agonising, partly because it wasprolonged by fake listings by agents and sellers who were just testing themarket. He then participated in a few property auctions and found them to bemore efficient. He reckoned they could be improved further by using technology.

Ms Lowadded: "Technology has disrupted many industries and real estate is not immune.Auctionjia believes in embracing technology to make a difference in the waybuyers and sellers transact properties. We want to make buying a home or anoffice space a blissful experience for today's discerning and digitally-savvyconsumers."

For moreinformation, please visit Auctionjia's website at