Three adjacent conservation shophouses located in 138, 140 and 142 Jalan Besar are being offered for sale as an expression of Interest (EOI) process. The freehold properties are being sold as a whole and come with an estimated price that is $30 million. This is equivalent to $2,908 per square foot of the floor area that currently totals 10,318 square feet.
The shophouses are located on an that covers 4,353 square feet that is zoned as commercial usage. Together, they enjoy an area of 15m across Jalan Besar. The shophouses are located a mere two minutes walk away from Jalan Besar MRT Station.
Grand Dunman brochure is showcasing the property is near every living convenience needed for everyday living, making it the perfect home for people accustomed to first-class life.
CBRE who are marketing the properties The shophouses are currently fully leased and the ground floor is lease to a pet hotel as well as 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 backed by outstanding features like the freehold ownership, their strategic location with attractive tenant covenants and approuvé uses, claims Clemence Lee CBRE’s executive director of the capital market in Singapore. The shophouses in the vicinity are popular with investors as evidenced by recent notable transactions, 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 in the month of May.
The EOI process for the shophouses will end August 2 at 3pm.