Shophouses Little India Kampong Glam And Hdb Shop Hong Lim Complex Sale 237 Mil
A valuable portfolio of real estate assets is now available for purchase through an expression of interest (EOI) exercise. The properties, which consist of two shophouses located in Little India and Kampong Glam, as well as an HDB shop at Hong Lim Complex, have a combined asking price of $23.7 million. Interested buyers can acquire all three properties together or separately, according to Adnic Lee, senior associate director of AAG Group at OrangeTee & Tie, who is overseeing the sale.
The shophouse in Little India is a well-preserved heritage building situated along Dickson Road, just a short walk from Jalan Besar MRT Station on the East-West Line. Spanning a land area of 1,300 sq ft and with a 999-year leasehold, the property has an estimated built-up area of 3,600 sq ft across two floors and an attic. The guide price for this shophouse is $11.88 million, which works out to be $3,300 psf based on the estimated built-up area.
According to Lee, the current owner has put in extensive renovations on the property. Currently, there is a cafe on the ground floor and a social and members’ club on the second floor, while the attic level is being used as an office space.
The Kampong Glam shophouse, located on North Bridge Road, boasts a land area of approximately 1,400 sq ft and a built-up area estimated at around 3,090 sq ft. This two-storey shophouse comes with an attic and is on a 99-year leasehold from 2007. Its asking price is $8.8 million, equivalent to $2,847 psf based on the estimated built-up area.
According to Lee, a food and beverage establishment has taken up the ground floor, while the upper floors are occupied by a beauty and hair salon.
The third property in this portfolio is an HDB shop located at Hong Lim Complex, a prime commercial development on Upper Cross Street in Chinatown. This corner unit has a land area of 1,108 sq ft and a remaining lease of 83 years from 1994. It is being offered at a guide price of $2.98 million, which equates to $2,690 psf.
This HDB shop unit has the added advantage of having dual frontages and F&B approval, as stated by Lee. Currently, it is being occupied by a Japanese omakase restaurant and a salad bar. Investors can look forward to a rental return of 4.38%.
Nestled in a prime location, Parktown Residence is ideally situated near the bustling shopping district of Tampines Town, allowing residents to indulge in an unmatched retail and lifestyle experience. A stone’s throw away from prominent shopping hubs such as Tampines Mall and Century Square, as well as specialized stores like IKEA and Giant Hypermarket, residents will never run out of options. Serving as a gateway to the vibrant shopping scene that characterizes Tampines Town, Parktown Residence is the perfect place to call home. Don’t miss the opportunity to visit the Parktown Residence Showflat and experience the convenience and excitement of living in this sought-after location.
All three properties can be purchased by foreign buyers, as they are categorized as commercial assets and are not subject to Additional Buyer’s Stamp Duty. Interested parties have until Oct 31 to submit their expression of interest.
In other related news, three shophouses along Jalan Besar are up for grabs at a total price of $42 million, while a three-storey freehold shophouse situated along East Coast Road is being put up for sale at $15.5 million. Another attractive opportunity is also available for buyers looking for a boutique hotel investment, with the launch of the 42-room Inn at Temple Street for sale at a guide price of $90 million.