The shophouses are zoned for “Commercial” use. Image: PropNex Realty.
Marketing agent, PropNex Realty announced that two properties along Bali Lane, as well as a shophouse at Duxton Road has been launched for sale by tender.
The shophouses at 13 and 14 Bali Lane are priced at $9.8 million, while the 42 Duxton Road guide price is starting from $4.9 million offer in excess.
Zoned for commercial use, the area occupies by 13 and 14 Bali Lane measures 1,470 sq ft with a total floor area of around 2,581 sq ft. It has 2 storeys, currently partially tenanted and is suitable for office or retail usage.
It is a three-minute walk away from the Bugis East-West Line-Downtown Line MRT interchange and is also near the Blue Jazz Café.
“Bugis is becoming increasingly attractive to a growing pool of multinational companies based in Grade A office developments DUO Tower, Bugis Junction Towers and upcoming Guoco Midtown, as well as to the millennials who appreciate the diversity in Bali Lane and Haji Lane filled with live local music, coffee places and attractive F&B establishments,” said Propnex Realty associate director Loyalle Chin.
The 42 Duxton Road property sits on land that is also zoned ‘Commercial’ which measures 1,118 sq ft and has a total floor area of around 2,035 sq ft.
The building is near the Tanjong Pagar MRT station, upcoming Maxwell MRT station and Outram Park MRT Triple Line interchange, with each only a 400 m, 230 m and 650 m walk away respectively.
Its first storey is occupied by retail while its second storey is currently occupied by Kokuyo, an international furniture and space design company, which results in a rental yield of 3.3%.
“With rental yields generally compressed between 1.8% to 2.5%, this is certainly one of the highest rental yields (3.3%) for a shophouse in Central Business District,” said Chin.
The tender exercise for the 13, 14 Bali Lane and 42 Duxton Road properties will close on 17 December.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email firstname.lastname@example.org