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Both properties are zoned for commercial use under the 2019 Draft Master Plan. Image source: cbre.
Two freehold commercial shophouses separately located at 114 Jalan Besar and 148 Neil Road have been put up for sale via expression of interest (EOI), revealed marketing agent CBRE.
Nestled on a 1,173 sq ft site, 114 Jalan Besar Road is a two-storey shophouse with a built-up area of around 1,901 sq ft. It has permanent approval for food and beverage use for the ground floor and was recently refurbished.
148 Neil Road, on the other hand, occupies a 1,587 sq ft site and has a built-up area of about 4,197 sq ft. The two-storey shophouse also comes with a basement and an attic.
CBRE noted that both properties are zoned for commercial use under the 2019 Draft Master Plan, hence local and foreign buyers may acquire them with no Additional Buyers’ Stamp Duty or Sellers’ Stamp Duty payable.
It added that potential buyers have the option of making a single or bundle asset purchase.
“According to the Urban Redevelopment Authority, there are only about 7,000 shophouses under conservation in Singapore. The sale of these two conservation shophouses present a rare opportunity for interested parties looking to own assets that are also a piece of national heritage,” said Yap Hui Yee, CBRE associate director of capital markets.
“To be sold on vacant possession, the shophouses will appeal to end-user occupiers seeking such property type as their business premises as they can immediately take over the space.”
The EOI exercise for the shophouses closes on 18 July.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg
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Jalan Besar shophouses up for EOI