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A row of three adjoining two-storey conservation shophouses along Jalan Besar have been put up for sale by expression of interest (EOI), marketing agent CBRE announced Monday (13 July).
The freehold shophouses with attic have a combined land area of approximately 4,353 sq ft and a gorss floor area (GFA) of around 9,719 sq ft.
Zoned commercial under the Historic District (Little India) Conservation Area in 2014 Master Plan, the shophouses come with an indicative price of S$16.5 million or S$1,697 per sq ft based on the GFA.
The shophouses will be sold with on vacant possession.
“Shophouses along Jalan Besar are always tightly held and extremely rare for any to be available for sale. For 138 to 142 Jalan Besar, the vendor has been occupying the premises over the past few decades,” said Sammi Lim, Associate Director, Investment Properties at CBRE, adding that there has been “increased interest from the market for such quality shophouse assets on the fringe of CBD for mid to long-term hold.”
“We term these shophouses as a limited edition asset in the property market that comes with a distinctive façade, unique charm and rich historical value; and three adjoining shophouses in a row in a centrally located area is an extremely rare opportunity. With the adjoining shophouses being offered on a vacant possession basis, it provides the buyer with the extra flexibility and creativity to configure the space to suit their own-use requirements or cater to the needs of tenants,” Lim added.
As a commercial property, the sale exercise is open to both local and foreign buyers with no additional buyers’ stamp duty (ABSD) or sellers’ stamp duty (SSD) imposed on the purchase of the property.
The expression of interest exercise will close on 28 August.
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg
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