News

Auctionjia puts up rare freehold Stanley Street shophouse for sale

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


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


The
property is also easily accessible by major expressways including the Marina
Coastal Expressway and Central Expressway.


Auctionjia
Co-Founder and Director Jessie Low said: "Shophouses have always been highly
sought-after for their heritage charm and scarcity. We believe the freehold
tenure of this Stanley Street shophouse and its excellent location will provide
attractive rental yields and potential for long-term capital appreciation."


The Telok
Ayer Conservation Area has undergone gentrification in recent years and seen a
flourishing of F&B, entertainment and lifestyle establishments that serve
the many offices located in the CBD.


The
ground floor of 28 Stanley Street is currently leased to a café selling healthy
and organic food, while the third and fourth floors are leased to a corporate
services provider. The second storey is vacant with potential to house another
restaurant.


As the
property sits on land zoned for commercial use, foreigners are eligible to buy
and there is also no Additional Buyer's Stamp Duty or Seller's Stamp Duty to be
paid.


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


The firm
was launched slightly over a year ago to provide buyers and sellers of
properties with an option for an online auction which it believes is a faster,
more cost-effective and transparent way of transacting real estate. The process
allows buyers and sellers to see all bids and create competitive tension
between bidders.


Auctionjia
also provides a state-of-the-art three-dimensional virtual tour for all its
listed properties. Prospective buyers can have a virtual walkthrough of the
properties from the comfort of their homes. The online auctions are typically
held over a few days on Auctionjia's website, and only verified participants
can submit their bids.


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


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


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


Ms Low
added: "Technology has disrupted many industries and real estate is not immune.
Auctionjia believes in embracing technology to make a difference in the way
buyers and sellers transact properties. We want to make buying a home or an
office space a blissful experience for today's discerning and digitally-savvy
consumers
."

For more
information, please visit Auctionjia's website at
www.auctionjia.com.sg.

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