Sitting on a site area of some 1,315 sq ft with an estimated gross floor area (GFA) of 3,945 sq ft, the property is zoned for “Commercial” use. This works out to some $2,661 psf on the GFA.
Foreigners and corporate entities are eligible to purchase the property without incurring additional buyer’s stamp duty (ABSD).
According to Colliers, the property is fully leased to a “diversified” tenant mix, offering immediate income and stable cash flow.
The surrounding area has seen increasing interest from boutique hospitality operators, co-living providers and F&B concepts, says Colliers. “Key landmarks City Square Mall, Mustafa Centre and Farrer Park Hospital anchor the vicinity, [offering] strong footfall and day-to-night activity.”
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The property is a short walk to Jalan Besar MRT Station on the Downtown Line and Farrer Park MRT Station on the North East Line.
“Freehold, fully tenanted corner conservation shophouses in District 8 are tightly held and rarely available,” says Zoe Zhou, director, capital markets and investment services, Colliers Singapore. “This asset presents investors a resilient income profile today, complemented by potential upside through future asset optimisation, set within one of Singapore’s most culturally vibrant city-fringe precincts.”
