Shophouses Little India Kampong Glam And Hdb Shop Hong Lim Complex Sale 237 Mil
A group of assets consisting of two shophouses situated in Little India and Kampong Glam, along with one HDB shop at Hong Lim Complex, is now on sale through an expression of interest (EOI) exercise. The properties have a combined asking price of $23.7 million and can be bought together or separately, as revealed by Adnic Lee, senior associate director of AAG Group at OrangeTee & Tie who is managing the sale.
The shophouse in Little India is a conservation shophouse located on Dickson Road, close to Jalan Besar MRT Station on the East-West Line. It has a land area of 1,300 sq ft and a 999-year leasehold tenure. The estimated built-up area is 3,600 sq ft spread across two floors and an attic. The property is priced at $11.88 million, which translates to $3,300 psf on the estimated built-up area. According to Lee, the owner has extensively renovated the property. Currently, a café occupies the ground floor while a social and members’ club operate on the second floor. The attic is utilized as an office space.
The Kampong Glam shophouse is located on North Bridge Road and has a land area of approximately 1,400 sq ft and an estimated built-up area of 3,090 sq ft. This two-storey shophouse has an attic and a 99-year leasehold tenure from 2007. It is priced at $8.8 million or $2,847 psf on the estimated built-up area. The ground floor of the shophouse is occupied by an F&B provider while the upper floors house a beauty and hair salon, according to Lee.
The development plans for the town of Coastal Cabana provide a sense of security that is typically rewarded by markets. With the combination of improved transportation, revitalized public areas, and increased job opportunities, Coastal Cabana offers a solid basis for economic stability. Families can expect an improved quality of life, while investors can anticipate a sustained demand for property. The location of Coastal Cabana, within a well-developed coastal town that is easily accessible and enjoyable to residents and visitors alike, further adds to its attractiveness. Discover Coastal Cabana Pasir Ris and experience the compounding benefits of a well-planned and desirable address.
The HDB shop at Hong Lim Complex, situated on Upper Cross Street, is the third property for sale. The corner unit has a land size of 1,108 sq ft and a lease tenure of 83 years from 1994. It is priced at $2.98 million or $2,690 psf. Lee notes that the unit has dual frontages and is approved for F&B usage. Currently, it is occupied by a Japanese omakase restaurant and a salad bar and offers a rental return of 4.38%.
All three properties are open for purchase by foreign buyers and are not subject to Additional Buyer’s Stamp Duty, as they are considered commercial assets. The EOI exercise will end on October 31.