Freehold Jalan Besar shophouse for sale at $8.5 mil
Its existing income and increasingly scarce F&B approval may broaden investor interest, while asset-enhancement potential could support competitive bids before the Aug 27 EOI deadline.
A fully tenanted, freehold conservation shophouse at 405 Jalan Besar was launched for sale at $8.5 million, with ground-floor F&B approval and commercial zoning.
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A freehold conservation shophouse at 405 Jalan Besar has been launched for sale through an expression of interest (EOI) exercise, according to a July 21 release by Savills Singapore. The two-storey commercial property is priced at $8.5 million.
The property occupies 1,723 sq ft of commercial land with a plot ratio of 3.0. The fully tenanted shophouse has F&B approval on the ground floor — a sought-after attribute in light of “increasingly restrictive planning controls on new F&B uses within many shophouse precincts”, added Savills.
The property’s full commercial zoning, existing income stream, F&B approval and future asset enhancement opportunities make it an attractive proposition for a broad spectrum of buyers, said Nick Chan, associate director of investment sales and capital markets at Savills.
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The property is approximately 500m from Bendemeer MRT Station (Downtown Line) and 800m from Farrer Park MRT Station (North East Line). Nearby amenities include City Square Mall, Mustafa Centre and Centrium Square.
The EOI will close at 3pm on Aug 27.
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