Four shophouses in Little India for sale at $23 mil
/ EdgeProp Singapore |
The three shophouses on Dunlop Street (Picture: Shophouse Collective)
SINGAPORE (EDGEPROP) - Four shophouses in the Little India area are up for sale via an expression of interest exercise. The properties comprise three conservation shophouses on Dunlop Street and one on Desker Road. The portfolio has a guide price of $23 million.
The three shophouses are adjacent two-storey properties located at 2,4, and 6 Dunlop Street. They have a total gross floor area (GFA) of 3,879 sq ft and sit on a land area of 2,527 sq ft zoned for commercial use. The ground floor units are currently approved for shop usage. (Find Singapore commercial properties with our commercial directory)
The shophouse at Desker Road, located about 800m away from the Dunlop Street shophouses, is a three-storey property with a GFA of about 3,000 sq ft, with a land size of 1,060 sq ft zoned for commercial use.
The shophouse at Desker Road (Picture: Shophouse Collective)
All the shophouses are owned by a single owner, who is open to selling the units together or separately, says Shophouse Collective’s Lukas Teo. Shophouse Collective, a team under PropNex Realty, has been appointed as the sole marketing agent for the properties.
The three shophouses at Dunlop Street have a guide price of $15 million, which works out to $3,867 psf on the GFA. Meanwhile, the shophouse at Desker Road is priced at $8 million, translating to $2,667 psf on the GFA.
Recent sales transactions of shophouses on Dunlop Street. (Source: EdgeProp Research)
Teo says the shophouse at 2 Dunlop Street is leased to a barbershop at a monthly rent of $5,500, while units at 4 and 6 Dunlop Street are vacant. Meanwhile, the Desker Road shophouse is rented out to a minimart business.
The expression of interest exercise for the portfolio will close on April 12 at 4pm.
Check out the latest listings near Dunlop Street, Desker road
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