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Working out to $1,701 per sq ft (psf), the portfolio is being sold with vacant possession, with purchasers having the flexibility “to occupy the premises for their own use immediately”. Image: Colliers International
A portfolio of five conserved shophouses at 99, 103, 105, 106 &107 Desker Road has been put up for sale via expression of interest (EOI) with an indicative price of $20.3 million, revealed exclusive marketing agent Colliers International.
This works out to $1,701 per sq ft (psf) based on an estimated total built-up area of 11,932 sq ft.
Located within the Desker Road conservation area, the portfolio includes “a row of three adjoining shophouses with prominent frontage, allowing flexible and efficient space usage”.
The five freehold shophouses occupy a combined land area of 5,965 sq ft. They are near Jalan Besar MRT station and the Ophir-Rochor corridor.
Popular establishments within the vicinity includes Swee Choon Tim Sum Restaurant, Berseh Food Centre, Mustafa Centre and Beach Road Scissors Cut Curry Rice.
Colliers International Senior Director of Investment Services Steven Tan said the properties can be used as a commercial school, office, residential, student’s hostel, among others.
The portfolio is being sold with vacant possession, with purchasers having the flexibility “to occupy the premises for their own use immediately”.
“Colliers sees an increased appetite for shophouses especially under commercial zone since they have no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD); foreigners and companies are eligible to purchase as well,” he said.
The EOI exercise for the shophouses closes on 3 February.
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