The ground floor of the shophouse is currently tenanted to a spa, while the third storey and attic are leased to an interior design firm (Photo: Loyalle Chin)
SINGAPORE (EDGEPROP) - A freehold corner shophouse at 127 Jalan Besar has been put up for sale via an expression of interest (EOI) exercise with a guide price starting from $11 million, exclusive marketing agent Loyalle Chin, director of PropNex ShophouseHuat, announced on August 14. The shophouse is situated within the Little India Conservation Area in Rochor, District 8.
The property fronting the Jalan Besar main road comprises three storeys and an attic, with a total floor area of 3,700 sq ft, subject to a site survey. The guide price translates to $2,838 psf on the estimated floor area.
Zoned for commercial use, the ground floor of the shophouse is currently tenanted to a spa, while the third storey and attic are leased to an interior design firm.
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Based on a sole lodged caveat, the shophouse was bought for $4.38 million in November 2020. This works out to about $1,184 psf on the floor area.
The current owner has done asset enhancement works on the shophouse between 2021 and 2022. This included the replacement of the entire roofing, a complete overhaul of toilets and plumbing, flooring, and upgrading of power supply, as well as changing the staircase from the rear entrance to the front entrance.
The shophouse is within walking distance of the Jalan Besar MRT station on the Downtown Line. It is eligible for foreigners and corporate entities to purchase without additional buyer’s stamp duty.
The EOI exercise closes on 18 September 2024 at 3pm.