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COMMERCIAL PROPERTY | Staff Reporter, Singapore

Three shophouse plots in Little India and Prime Chinatown launched for sale

Guide prices range from $6m to $18m.

Three plots of prime conservation shophouses located in Little India and Chinatown Conservation Areas are up for sale by Expression of Interest, marketing agent Knight Frank said. Of the three plots for sale, one is a block of four adjoining shophouses within Little India whilst the other plots are two shophouses are located within the heart of Chinatown.

Located within Little India along Jalan Besar, the 999-year leasehold block of four shophouses are located directly opposite Sim Lim Tower and sit on a land area is 3,337 sqft, with a total gross floor area of about 6,200 sqft. Currently, the units are fully occupied with coffee shops on the ground floor and offices on the upper levels.

Mary Sai, executive director for investment and capital markets of Knight Frank Singapore, said a guide price of $16m to $18m for the four shophouses is “reasonable and realistic.”

“Well-located coffeeshops and F&B outlets serving good cuisine are generally crowd pullers and are actively sought after by both investors and food operators. Furthermore, the Jalan Besar MRT station is just a stone throw away from the shophouses,” Sai added.

Of the two units for sale in Chinatown, one is located along South Bridge Road across Maxwell Food Centre. It has a land area of 1,270 sqft and a gross floor area of about 3,200 sqft. The ground floor is currently occupied as a restaurant and upper floors as offices.

Given the limited supply of shophouses within the vicinity, particularly with approved usage for F&B business, the expected price for the unit is around $7m to $7.5m.

The third conservation shophouse is located at Sago Street in Chinatown. Within walking distance to Chinatown MRT station and the Buddha Tooth Temple, the site has a land area of 1,064 sqft and a gross floor area of about 3,000 sqft.

The ground floor is currently occupied as a retail shop and upper floors as offices. The guide price for this unit is $6.5m to $7m.

The Expression of Interest exercise will close at 3 p.m. on 11 September 2018, Tuesday. 

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