SINGAPORE (EDGEPROP) - A 999-year non-conservation shophouse at 284 Jalan Besar is on the market for $5.9 million. The property will be sold in an expression of interest (EOI) exercise, and Savills Singapore is the appointed marketing agent.
The non-conservation shophouse is on a 1,600 sq ft site and has a built-up area of 3,100 sq ft. The guide price translates to $3,687.5 psf on the land area.
The site is zoned ‘Commercial’ under the 2019 Master Plan. The two-storey shophouse with attic is suitable for value-add or redevelopment, and the new building could be up to six-stories high. The property is equipped with modern specifications including renovated toilets and a full-sized kitchen. (Find Singapore commercial properties with our commercial directory)
The property features two separate entrance points, one at the back and another at the front of the property. As a non-conservation shophouse, it benefits from the flexibility to configure the space to suit a range of commercial uses, such as F&B restaurants, cafes, co-living, gym, medical, or offices.
“City fringe locations like Jalan Besar have become popular amongst investors in the last 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,” says Sophia Lim, senior manager, investment sales & capital markets, Savills Singapore.
The EOI closes on Oct 21.
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