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Three adjoining shophouses (pictured) within the Little India Conservation Area have been put up for sale, exclusive marketing agent JLL announced today.
Up for Expression of Interest (EOI) are 2, 4, and 6 Dunlop Street which offers a combined site area of approximately 2,475 sq ft and a gross floor area of approximately 6,000 sq ft.
Zoned commercial and are under the conservation area, the 999-year leasehold properties are located within proximity to the upcoming Jalan Besar, and Rochor MRT Stations. The property has been configured for the current owner’s use and will be sold with vacant possession.
According to JLL, the corner shophouse is in its original condition, while two of the other shophouses have had their inter-partition walls knocked down to create a seamless space. The firm also noted that the properties’ location will allow the new owner to “tap on business from the local Indian community, and from foreign workers during weekends as well as leisure and business tourists in the heritage area.”
“Due to the current restrictions in the local residential market, many investors have started to look at other options for investment. This opportunity is expected to generate keen interest from a wide range of buyers including investors, foreigners, private funds, private individuals and end-users who are in F&B, retail, IT, and other industries that can operate and capitalise on the heavy human traffic in Little India. These properties are also commercially zoned and not subject to the Additional Buyer’s Stamp Duty (ABSD) and Seller’s Stamp Duty (SSD),” said Nicholas Ng, local director of investment properties at JLL.
Optimistic about the demand for the row of shophouse, Ng added: "There is always a strong interest from buyers when shop houses have a good flow of human traffic that is close to public transportation, have 999 years tenure and are reasonably priced.”
The indicative price for the three shop houses is S$9.5 million. The EOI exercise will close on 10 July.
Nikki De Guzman, Junior Journalist at PropertyGuru, wrote this story. To contact her about this and other stories, email nikki@propertyguru.com.sg
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