Three freehold Jalan Besar shophouses on the market for $30 mil
/ EdgeProp Singapore |
The shophouses have a combined existing floor area of 10,318 sq ft (Picture: CBRE)
SINGAPORE (EDGEPROP) - A row of three adjoining conservation shophouses at 138, 140, and 142 Jalan Besar are up for sale via an expression of interest (EOI) exercise. The freehold properties are to be sold collectively and have a guide price of $30 million. This works out to $2,908 psf on the total existing floor area, which spans 10,318 sq ft.
The shophouses occupy a land area of 4,353 sq ft zoned for commercial use. Together, they have a 15m frontage along Jalan Besar. The shophouses are a two-minute walk from Jalan Besar MRT Station. (Find Singapore commercial properties with our commercial directory)
Map and overview of 140 Jalan Besar (Source: EdgeProp LandLens)
CBRE, which is marketing the properties, says the shophouses are currently fully tenanted, with the ground floors leased out to a pet hotel and a retailer for luxury Italian sanitaryware brand Oxo. Co-living operator The Assembly Place tenants the upper floors.
The three commercial shophouses are well-supported by exceptional attributes such as their freehold tenure, strategic location, attractive tenant covenants and approved uses, says Clemence Lee, CBRE’s executive director of capital markets in Singapore. He adds that shophouses in the area remain popular among investors, with recent notable transactions including the sales of 109 to 117 Jalan Besar for $40 million in September 2022, 309 and 311 Jalan Besar for $28 million in May 2022, and 301 Jalan Besar for $26 million last month.
Recent transactions of commercial properties on Jalan Besar (Source: EdgeProp Research)
The EOI exercise for the shophouses will close on Aug 2 at 3pm.
Check out the latest listings near Jalan Besar, Jalan Besar MRT Station
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