Artist's impression of the new four-storey commercial building with six-storey rear extension that is expected to be completed by end 2024 (Picture: Savills Singapore)
A new four-storey freehold building with a six-storey rear extension along Jalan Besar has been put on the market for sale at $24.23 million. The price works out to $2,499 psf based on its gross floor area of 9,694 sq ft. The property will be sold via an expression of interest (EOI) exercise, which will close on Mar 1.
The property is zoned commercial under the 2019 Master Plan, with the ground floor approved for F&B use. The upper floors have been approved for office use. A passenger lift serves all floors and there are there is parking for three cars in the rear of the building.
The building is currently under construction with Temporary Occupation Permit (TOP) excepted in 4Q2024. It will be sold with vacant possession.
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The shophouse is located within 500m of two MRT stations, namely the Farrer Park Station (on the Northeast Line) and the Jalan Besar Station (on the Downtown Line).
According to Yap Hui Yee, Savills Singapore's executive director of investment sales & capital markets, the exclusive marketing agent, the commercial space can be converted to other alternative uses such as a fitness centre, showroom, educational centre or healthcare and medical clinics.
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