Two ground floor shophouses (top) at the corner of Figaro Street and Jalan Tua Kong in the Siglap area have been put up for sale by tender. The two shophouses at 1 and 1B Figaro Street have a lease tenure of 9,999-years and dual frontage. Its immediate surroundings are landed houses, F&B outlets and service retailers. Both units are owned by related parties and are offered for sale together. They will be sold with existing tenancies, with one of the units currently leased to a popular European bistro. 1 Figaro Street is sized at 2,021 sq ft, while 1B is sized at 1,500 sq ft. The guide price for the two units is $8 million and investors can expect a gross rental return in excess of 3.5%, says Galven Tan, director of investment properties at CBRE, the marketing agent for the properties. The tender closes on Nov 28.

This article appeared in the City & Country of Issue 648 (Oct 20) of The Edge Singapore.