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Located at 4, 6 and 8 Bellios Lane, the three shophouses have a total built-up area of around 4,015 sq ft. Photo: CBRE
Three adjoining two-storey pre-war conservation shophouses at 4, 6 and 8 Bellios Lane have been put up for sale collectively with a guide price of $7.5 million, revealed marketing agent CBRE.
With 11 meters of unobstructed road frontage along Bellios Lane, the shophouses sit on a 2,203 sq ft site that is zoned “Commercial” under the Little India Historic District Conservation Area. The three shophouses have a total built-up area of around 4,015 sq ft.
Currently, the shophouses are fully leased to various tenants, comprising a pharmacy, beauty salons and jewellery shop.
CBRE noted that foreigners are eligible to acquire the subject property, with no Additional Buyer’s Stamp Duty or Seller’s Stamp Duty payable.
“This is a rare opportunity for astute investors or owner-occupiers to acquire a row of three corner shophouses in the vibrant Little India district,” said Clemence Lee, Senior Director of Capital Markets, Singapore at CBRE.
“The asset is located just across the street from the renowned House of Tan Teng Niah, a heritage landmark popular among both locals and tourists, which helps ensure regular footfalls to the area. The large public car park located just next to the subject property brings convenience to patrons who drive.”
Subject to the relevant authorities’ approval, the successful buyer can explore several change-of-use options for the shophouses like fitness centres, medical clinic or restaurants to unlock capital values and enjoy rental upside in the future.
Lee believes the ongoing rejuvenation activities in Farrer Park and Little India as well as the completion of various commercial projects like Centrium Square, Tekka Place and the upcoming LYF@Farrer, will transform the vicinity “into a dynamic and bustling city-fringe commercial cluster”.
As such, he expects the subject property to “benefit from the spillover of commercial activities, allowing the successful buyer to benefit from favourable rental and capital appreciation in the medium to long term”.
The property is a mere three-minute walk to Little India MRT Interchange, while numerous bus services are available along Serangoon Road which leads to other arterial roads and expressways like the Central Expressway.
The expression of interest exercise for the property closes on 24 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