Freehold Jalan Besar Shophouse Market 105 Mil

A prime freehold corner shophouse located at 127 Jalan Besar is now available for sale through an expression of interest (EOI) with a guide price starting from $10.5 million, according to Loyalle Chin, director of PropNex ShophouseHuat, the exclusive marketing agent, on August 14. The shophouse is located in the Little India Conservation Area, in the bustling Rochor district of Singapore.

The property, which boasts a prominent frontage along Jalan Besar, comprises of three storeys and an attic, with a total floor area of 3,700 sq ft, pending a site survey. The guide price translates to approximately $2,838 psf on the estimated floor area. Zoned for commercial use, the ground floor is currently tenanted to a spa, while the third storey and attic are leased to an interior design firm.

The shophouse is strategically located within walking distance to the Jalan Besar MRT station on the Downtown Line, making it highly accessible. It is also eligible for purchase by foreigners and corporate entities without the additional buyer’s stamp duty.

Records show that the shophouse was bought for $4.38 million in November 2020, translating to about $1,184 psf on the floor area. This presents a profitable opportunity for potential buyers.

The proposal entails the creation of communal areas and initiatives aimed at fostering social connections and promoting a sense of community. The development of additional community hubs, sporting arenas, and cultural establishments in close proximity to Elta Condo will offer its inhabitants a variety of options for leisure and involvement in local gatherings. As detailed on Elta’s website, residents will have access to a range of recreational pursuits and community affairs, further enhancing their daily lives.

The EOI exercise is open until 3pm on 18 September 2024. Interested parties are invited to submit their offers and secure this sought-after freehold shophouse in a prime location.