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A three-storey commercial building, and a four-storey residential building with commercial at the first storey, both located along Sam Leong Road off Jalan Besar, have been put up for sale by expression of interest, property consultancy firm Chestertons announced Tuesday (26 August).
The three-storey freehold building features a site area of approximately 2,726 sq ft and a gross floor area of 7,887 sq ft. It is equipped with an internal lift that serves all three floors and has a mechanized car park for four car park lots at the rear of the property. The building is currently vacant.
Meanwhile, the four-storey residential building with commercial at the first storey comes with a 999-year lease tenure with effect from January 1919. It has a site area of approximately 1,335 sq ft and offers a gross floor area of about 4,234 sq ft. The building is currently tenanted.
Both sites are zoned commercial and come with a plot ration of 3.0.
Despite being located within the Jalan Besar Conservation area, Chestertons noted that the assets are not conserved. “This provides an opportunity for interested parties to consider a redevelopment option, subject to adhering to the envelop control guidelines for conservation areas and obtaining approvals from relevant authorities,” it said.
“This presents a rare opportunity for interested parties who are looking to own a full commercial building located close to the Central Business District for own use as well as a mixed-used development for investment purpose,” Chestertons’ Managing Director, Donald Han said.
The properties are for sale on an “as-is-where-is” basis and can be purchased together or individually.
The EOI exercise will end on 23 September.
Image: The two adjoining properties on Sam Leong Road (Source: Chestertons)
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this and other stories, email nikki@propertyguru.com.sg
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