Propnex, Shophouses, Singapore Property

Propnex, Shophouses

Two shophouses in CBD, three in Jalan Besar up for sale

Two shophouses in CBD, three in Jalan Besar up for sale

11/8/2020 11:16:00 AM

Two shophouses in CBD, three in Jalan Besar up for sale

TWO shophouses located in the central business district (CBD) and three adjoining shophouses in Jalan Besar have been put up for sale by tender, marketing agents PropNex and Edmund Tie said separately on Tuesday. Read more at The Business Times.

Tell us what you think. Email us atbtuserfeedback@sph.com.sgIt is fully tenanted to an F&B restaurant with all three storeys and mezzanine floor approved for F&B use.Located in the Telok Ayer Conservation Area, 182 Telok Ayer Street is less than 250 metres from Telok Ayer MRT station and is within walking distance to both Tanjong Pagar MRT and the upcoming Shenton Way MRT.

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PropNex is the sole marketing agent for both the Kreta Ayer Road and Telok Ayer Street shophouses.Three-adjoining shophouses with mezzanine at 65, 66 and 67 Syed Alwi Road in the Jalan Besar thoroughfare have been put up for sale via a tender exercise with a guide price of S$8.8 million, sole marketing agent Edmund Tie said separately on Tuesday.

The Syed Alwi Road shophouses have a combined site area of 3,542 sq ft and a total gross floor area of 6,723 sq ft.The Syed Alwi Road shophouses are not subject to additional buyer's stamp duty or seller's stamp duty and are eligible for purchase by both local and foreign buyers. headtopics.com

According to Edmund Tie executive director of investment advisory Swee Shou Fern, investors have the opportunity to reposition the property for alternative uses as vacant possession of the ground floor space can also be delivered upon sale.Alternative uses include F&B, fitness centre or showroom, subject to approval from the relevant authorities, she said.

The Syed Alwi Road shophouses are under the Little India Historic District and are within 400 metres from Jalan Besar MRT station and near the CBD and Orchard Road."This is a rare opportunity to own three adjoining shophouses, which gives the potential buyer ample flexibility in terms of space utilisation," Ms Swee said.

All five shophouses are zoned"commercial" under the Urban Redevelopment Authority's Master Plan 2019. Due to this zoning, the properties are not subject to additional buyer's stamp duty or seller's stamp duty and are eligible for purchase by both local and foreign buyers.

The tender exercise for 65, 66 and 67 Syed Alwi Road will close on Sept 17, 2020, at 3pm. Meanwhile, the tender for 35 Kreta Ayer Road and 182 Telok Ayer Street will close on Oct 1 at 3pm.BT is now on Telegram! Read more: The Business Times »

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