Four adjoining Jalan Besar shophouses up for sale

Thu, Apr 05, 2018


FOUR adjoining freehold shophouses at the corner of Jalan Besar and Upper Weld Road have been put on the market.

The guide price for 71, 73 ,73A and 73B Jalan Besar is understood to be S$20-24 million.

The property is currently owned by a company that has held it for a long time.

The two-storey conservation shophouses in the Little India Historic District have a total land area of 3,495 sq ft and a floor area of about 6,407 sq ft. Under the Urban Redevelopment Authority's Master Plan 2014, the site is zoned "commercial" within a conservation area.

The property is located next to the Jalan Besar MRT Station, close to the Central Business District and connected by major expressways and major roads.

Mary Sai, executive director of investment and capital markets at Knight Frank Singapore, which is marketing the property, said: "We continue to receive enquires and see strong interest for shophouse opportunities in Singapore. We expect this property to attract good interest in view of its excellent location. Subject to approval from the relevant authorities, the premises is suitable for use as a showroom, retail, office and co-working space."

Only one of the four shophouses is currently occupied under a short-term lease.

Knight Frank's executive director and head of investment and capital markets, Ian Loh, said: "The property is suitable for end-users to occupy immediately, since vacant possession can be granted upon sale."

The property is being offered through an expressions of interest exercise that will close on May 8.