Freehold Corner Ground Floor Unit Jalan Besar Sale 148 Mil
There is an opportunity to purchase a freehold ground-floor unit at Jalan Besar through an expression of interest (EOI) exercise, as reported by Cushman & Wakefield, the exclusive marketing agent for the property. The unit has a guide price of $14.8 million, equivalent to $3,035 per square foot.
Located at the junction of Jalan Besar and Plumer Road, the unit has a 30-meter frontage on two roads. It consists of the entire ground floor and part of the second floor, with a strata area of around 4,876 square feet. The unit also features two staircases and washrooms on both levels.
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According to Cushman & Wakefield, the layout of the property is efficient, providing the new owner with the option to subdivide and lease to multiple tenants. The flexible layout also makes it suitable for various commercial purposes, such as a medical suite, educational or training center, or showroom. With its recently acquired F&B approval, the unit is also ideal for food and beverage establishments.
Sophia Lim, director of capital markets at Cushman & Wakefield, notes the property’s advantages, saying, “With its prominent dual road frontage and flexible layout configurations, this property is well-positioned to capture strong demand from both investors and occupiers looking to establish a presence in a vibrant and fast-evolving precinct.”
Situated in District 8’s Jalan Besar conservation area, the ground-floor unit offers easy access to the surrounding neighborhood, which has seen a surge of boutique hotels, co-working spaces, artisanal shops, cafes, and bistros. Additionally, the property is conveniently located near three MRT stations, including Jalan Besar MRT Station, Bendemeer MRT Station, and Farrer Park MRT Station, as well as major expressways like CTE and PIE.
Shaun Poh, executive director of capital markets at Cushman & Wakefield, highlights the growing interest in District 8, stating, “District 8 has experienced a noticeable increase in transaction volume and investor activity over the past few years, driven by the area’s ongoing rejuvenation and improving profile as a city-fringe hotspot.”
Cushman & Wakefield points to recent strata retail transactions in the Jalan Besar area, such as ARC 380, where retail units were sold for $3,737 to $3,975 per square foot between May and December 2024, and a large ground-floor coffee shop unit at Hoa Nam Building, which sold for $4,213 per square foot in December 2022.
Poh adds, “We believe there remains significant upside in this precinct, both in terms of capital growth and rental appreciation, as Jalan Besar continues to mature into a promising investment corridor, supported by steady demand from both end-users and local and foreign investors.”
The EOI exercise for the property will close on November 21 at 3pm.