Months after a shophouse at Farrer Park’s Kitchener Road was bought at a value of $4.3 million, it was sold for a price of $8 million.
This transaction meant that the seller profited an amount of close to $3.7 million.
Initially bought in Jan 2022
In the month of January 2022, the shophouse which is located at 147 Kitchener Road was bought by Pack Wan, a company that was created in August 2021.
The then purchase price of $4.3 million was the price which was valued in August 2021.
History
The shophouse at 147 Kitchener road had been there since it was built in 1920, and is now currently facing City Square Mall and Residences.
City Square mall has an underground link to Farrer Park MRT station.
Who bought the shophouse?
The latest owner of the shophouse is revealed to be  Eng Teng Association, which is one of the more established Hakka associations.
Previously, it was located at 132 Neil Road in a double-story conservation shophouse at 132 Neil Road.
It was then sold for $10.5 million.
Image source: Google Maps