A shophouse with a unique corner location in the vibrant Jalan Besar district is now available for sale through private treaty. This two-storey building with an attic, situated at 209 Jalan Besar, is being marketed by Gracelynn Zhu from PropNex Shophouse Elites. According to Zhu, the 999-year leasehold property is listed at a price below $20 million.
Measuring approximately 5,502 sq ft in total, the shophouse is zoned for commercial use. The first floor has already been approved for restaurant operations, while a portion of the second floor is also designated for the same purpose. With a price tag of $20 million, the per square foot (psf) price works out to be $3,635 based on the floor area.
Located within the Desker Road Conservation Area in District 8, this property is situated in a prime location close to Little India. It is also conveniently within walking distance to the Jalan Besar MRT station on the Downtown Line. The Map showing the exact location of the shophouse can be found on EdgeProp LandLens.
Zhu has revealed that the shophouse is currently undergoing asset enhancement initiatives (AEI). As part of this, micro piles that extend 30m will be installed to strengthen the property’s structural foundations. The AEI is projected to be completed by the end of this year.
The buyer of this shophouse will not only acquire a valuable asset, but also benefit from its prime location and potential for rental income. With the ongoing development and gentrification of the Jalan Besar district, the shophouse is expected to appreciate in value in the future. Don’t miss this opportunity to invest in a piece of Singapore’s heritage.