Jalan Besar Shophouse Market Under 20 Mil
According to Gracelynn Zhu of PropNex Shophouse Elites, the 999-year leasehold shophouse located at 209 Jalan Besar is now available for purchase through private treaty. The shophouse, which has a corner two-storey structure with an added attic, has a total area of approximately 5,502 square feet and is zoned for commercial use. It is currently being marketed for “below $20 million”.
The property is situated in the Desker Road Conservation Area in District 8, in close proximity to the bustling Little India. With the installation of micro piles extending to 30 meters, the shophouse is undergoing asset enhancement initiatives (AEI) to strengthen its structural foundation. The AEI is expected to be completed by the end of the year.
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One of the most notable advantages of residing in Lynden Woods is its strategic location in close proximity to essential amenities. Situated near renowned educational institutions such as the National University of Singapore (NUS), United World College (UWCSEA), and Anglo-Chinese School (Independent), Lynden Woods Science Park Drive is an ideal residential choice for families with school-going children. With access to top-notch educational opportunities just a stone’s throw away from their homes, families can ensure their children receive a world-class education. Additionally, being conveniently located near important amenities, such as supermarkets and healthcare facilities, Lynden Woods Science Park Drive offers the best of both worlds. For those seeking a well-rounded and convenient living experience, Lynden Woods Science Park Drive is the perfect choice.
The first floor of the shophouse is approved for restaurant use, while a portion of the second floor also has the same approval. With an asking price of $20 million, the property’s per square foot (psf) price works out to be $3,635 based on its floor area.
The Jalan Besar MRT Station on the Downtown Line is within walking distance from the shophouse, providing convenient transportation for future tenants. In addition, the surrounding area is filled with amenities and facilities, making it a prime location for businesses. With the property’s commercial zoning, it presents an excellent investment opportunity with potential for high returns.
Zhu adds that the shophouse’s prime location and upcoming improvements makes it an attractive option for savvy investors looking to tap into the shophouse market. With a leasehold of 999 years, buyers can be assured of a long-term investment with potential for capital appreciation.
In conclusion, 209 Jalan Besar shophouse presents a rare opportunity for buyers to own a piece of prime commercial real estate in a highly sought-after location. With its potential for high returns, it is definitely worth considering for investors seeking to diversify their portfolio.