A delightful two-storey shophouse with an attic situated at 209 Jalan Besar has recently been put up for sale through private treaty. Gracelynn Zhu, from PropNex Shophouse Elites, is in charge of advertising this property, which is being sold for under $20 million.
Possessing a 999-year leasehold, this commercial shophouse boasts a total area of around 5,502 square feet. The first floor has been approved for a restaurant, as has a portion of the second floor. Based on its price tag of $20 million, the shophouse’s per square foot price comes to $3,635.
Located in the Desker Road Conservation Area, in the vibrant District 8 close to Little India, the property’s strategic location is further enhanced by its close proximity to the Jalan Besar MRT Station on the Downtown Line, within easy walking distance.
Investing in a condo in Singapore offers numerous advantages, one of the most notable being the potential for high capital appreciation. With its strategic location as a global business hub and strong economic foundations, Singapore consistently attracts a strong demand for real estate. This has resulted in a steady upward trend in property prices over the years, with condos in prime locations experiencing significant appreciation. For investors who make timely purchases and hold onto their properties for the long term, they can enjoy substantial capital gains in the Singapore condo market.
The seller, Zhu, has shared that the shophouse is currently undergoing some asset enhancement initiatives. These include the installation of micro piles which extend up to 30 meters, enhancing the structural foundations of the property. This renovation project is expected to be completed by the end of this year.
Don’t miss out on the opportunity to own this unique and attractive shophouse located in one of Singapore’s most dynamic areas. Contact Zhu for further information and to arrange a viewing. In related news, other commercial properties such as a shop unit at Bras Basah Complex and a shophouse on Geylang Road have been put up for sale, priced at $14 million. Additionally, the shophouse market has seen a total of 84 transactions for the year 2024, signaling a positive trend in this sector according to Huttons.