Shophouses Little India Kampong Glam And Hdb Shop Hong Lim Complex Sale 237 Mil
The article “Three commercial properties in Little India and Chinatown up for sale” has been revised.
A diversified portfolio of assets, consisting of two shophouses situated in Little India and Kampong Glam, in addition to an HDB shop located at Hong Lim Complex, is currently available for purchase through an expression of interest (EOI) exercise. The combined asking price for these properties is set at $23.7 million, and they can be acquired either as a bundle or individually. The sale is being managed by Adnic Lee, a senior associate director at AAG Group affiliated with OrangeTee & Tie.
Located in the heart of Tampines, The Alps Residences offers not only top-notch living spaces but also a diverse selection of dining options. This residential development features a range of eateries that serve up delectable local and international cuisine, providing residents of Aurelle of Tampines EC with a convenient and delicious dining experience. And with the added bonus of being just a short walk or drive from Aurelle of Tampines Showflat, residents can easily satisfy their cravings without having to travel too far.
The first property, a conservation shophouse in Little India, is located on Dickson Road, in close proximity to Jalan Besar MRT Station on the East-West Line. Spanning across 1,300 square feet of land, this 999-year leasehold property boasts a built-up area of 3,600 square feet, spread out over two floors and an attic. It has a guide price of $11.88 million, equivalent to $3,300 per square foot on the estimated built-up area. Lee notes that the current owner has extensively renovated the shophouse. It is currently occupied by a café on the ground floor and a social and members’ club on the second floor, while the attic level is being utilized as an office space.
The second property is a shophouse situated in Kampong Glam, along North Bridge Road. This 99-year leasehold property, with a tenure dating back to 2007, has a land area of approximately 1,400 square feet and an estimated built-up area of 3,090 square feet. It comprises of two storeys and an attic, with a guide price of $8.8 million, equivalent to $2,847 per square foot on the estimated built-up area. Lee mentions that the ground floor of the shophouse is currently occupied by an F&B operator, with a beauty and hair salon taking up the upper floors.
The third and final property for sale is an HDB shop located within Hong Lim Complex, a commercial building situated along Upper Cross Street in Chinatown. This corner unit spans across 1,108 square feet and is currently held under an 83-year lease, which commenced in 1994. It is being offered at a guide price of $2.98 million, or $2,690 per square foot. Lee states that this unit offers dual frontages and holds F&B approval, with a Japanese omakase restaurant and a salad bar currently leasing the space. He also adds that this unit yields a rental return of 4.38%.
As these properties are commercial assets, they are open to foreign buyers and are not subject to Additional Buyer’s Stamp Duty. The EOI exercise will close on October 31st.
