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The 17 Jalan Klapa freehold shophouse is a 1,500 sq ft site on sale for $12.28 million and is being sold with its existing tenant. Source: Google Maps
A corner shophouse at 17 Jalan Klapa has been put up for sale by tender with a guide price of $12.28 million or $3,509 per sq ft (psf) on built up area, revealed exclusive marketing agent PropNex Realty.
Nestled on 1,500 sq ft site, the freehold shophouse has a built-up area of about 3,500 sq ft and is being sold with its existing tenant.
Located at the junction of Jalan Klapa and Victoria Street, the shophouse is 500 m to Bugis MRT interchange, near the Bugis Junction and DUO Residences.
PropNex noted that the property also offers “an additional 1,000 sq ft worth of outdoor seating on top of its existing built-up area suitable for al fresco dining”.
It added that the property’s vendor also secured provisional approval from the Urban Redevelopment Authority (URA) for the possibility to extend the floor area of the second level’s rear portion by an additional 570 sq ft.
Loyalle Chin, Senior Associate Division Director of PropNex, expects the shophouse to attract “keen interest from investors and end-users who are looking to locate their business in a building with naming rights within Bugis”.
“This tightly-held F&B shophouse supply holds a huge advantage because new eating houses are no longer permissible due to traffic congestion as a result of overwhelming demand for parking spaces.”
Zoned for “Commercial” use under the 2019 Master Plan, the shophouse can be acquired by both locals and foreigners with no Additional Buyer’s Stamp Duty (ABSD) payable.
The tender for 17 Jalan Klapa closes on 30 September.
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Cheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email: cheryl@propertyguru.com.sg.
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