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Syed Alwi Road shophouses. Photo: Edmund Tie.
Three adjoining shophouses at 65, 66 and 67 Syed Alwi Road in the Jalan Besar thoroughfare have been put up for sale via tender, carrying an indicative price of $8.8 million, revealed marketing agent Edmund Tie.
With a 17-metre frontage along Syed Alwi Road, the shophouses – which come with mezzanine – have a combined site area of 3,542 sq ft and a total gross floor area of 6,723 sq ft.
Suggested read: How You Can Install a Mezzanine Floor in Your House Without Getting Into Trouble
They are strategically situated at the city fringe, within 400 metres to Jalan Besar MRT station and near Orchard Road and the Central Business District.
Under the 2019 URA Master Plan, the property is zoned for “Commercial” use under Little India Historic District. This means both local and foreign buyers can acquire the shophouses, with no Additional Buyer’s Stamp Duty or Seller’s Stamp Duty payable.
“This is a rare opportunity to own three adjoining shophouses, which gives the potential buyer ample flexibility in terms of space utilisation,” said Swee Shou Fern, Executive Director of Investment Advisory at Edmund Tie.
She noted that investors have the opportunity to reposition the property for alternative uses, given that vacant possession of the ground floor can be delivered upon sale.
Alternative uses include clinic, food and beverage, showroom or fitness centre, subject to relevant authorities’ approval, she added.
The tender exercise for the shophouses closes on 17 September.
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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg