The shophouse occupies a 1,600 sq ft site and has a built-up area of about 3,100 sq ft. Photo: Savills Singapore.
A two-storey with attic non-conservation shophouse at 284 Jalan Besar has been put up for sale via expression of interest (EOI) with a guide price of $5.9 million, revealed exclusive marketing agent Savills Singapore.
With a leasehold tenure of 999 years, the shophouse occupies a 1,600 sq ft site and has a built-up area of about 3,100 sq ft. It is well-served by a staircase located at its front, renovated toilets as well as a full-sized kitchen with concrete flooring. It also has two separate entrance points – which can be found at the front and back of the property.
Currently, the shophouse enjoys a ready income stream and the flexible configuration within the property allows the prospective buyer to explore value-add opportunities in the midterm.
Sophia Lim, Senior Manager, Investment Sales & Capital Markets at Savills Singapore, noted that city-fringe locations such as Jalan Besar became popular among investors over the past 12 months due to their rental upside and potential for capital appreciation.
“A non-conservation shophouse in the heart of Jalan Besar is few and far between. 284 Jalan Besar is not subject to the conservation guidelines and presents value-add potential or redevelopment up to six storeys,” she said.
As a non-conservation shophouse, the property can be reconfigured to suit various commercial uses, such as F&B restaurants, co-living, cafes, medical, gym and offices, subject to the approval of relevant authorities.
Located adjacent to the Jalan Besar Stadium and Swimming Complex, the shophouse is about 200m to City Square Mall. Savills noted that the property is well-connected, with a bus stop situated right in front of it and is accessible via the Kallang-Paya Lebar Expressway (KPE) and Central Expressway (CPE).
Given its commercial zoning, the shophouse can be acquired by foreigners and companies with no Additional Buyers’ Stamp Duties (ABSD) or Seller Stamp Duties (SSD) payable.
The EOI exercise for the shophouse closes on 21 October.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this story, email: email@example.com