Three adjacent shophouses with conservation in 138, 140 and 142 Jalan Besar are available for sale through an expression of Interest (EOI) process. The freehold properties will be sold in a group and have an estimate that is $30 million. This is equivalent to $2,908 per square foot of the floor area that currently covers 10,318 square feet.
The shophouses are located on an that covers 4,353 square feet that is zoned to commercial uses. Together, they boast a frontage of 15m across Jalan Besar. The shophouses are just a 2-minute walk away from Jalan Besar MRT Station.
Hillock Green floor plan covering an impressive site area of 13,444.3 square meters, this non-landed residential property promises comfort
CBRE who is the marketing company for the properties The shophouses are currently fully rented and the lower floors lease to a pet-friendly hotel and an outlet for Oxo, a luxury Italian brand of sanitaryware Oxo. A co-living company The Assembly Place tenants the upper floors.
The three commercial shops are well-supported by unique characteristics like the freehold ownership, their strategic location attractive tenant covenants, and approuvé uses, claims Clemence Lee CBRE’s executive director of financial markets for Singapore. He says that shophouses within the vicinity are popular with investors as evidenced by recent notable deals including the sale of 109-117 Jalan Besar for $40 million in September 2022, 311 and 309 Jalan Besar for $28 million in May 2022 and the 301 Jalan Besar for $26 million this month.
The EOI process for the shophouses closes August 2 at 3pm.