Two freehold commercial shophouses up for sale

Two freehold commercial shophouses at 148 Neil Road and 114 Jalan Besar are up for sale via an expression of interest (EOI) exercise, at $16.5 million and $5.65 million respectively. CBRE is the exclusive marketing agent.

148 Neil Road is a two-storey shophouse with an additional basement and an attic level. Located in the Bukit Pasoh Conservation Area, the property sits on a site of about 1,587 sq ft and has a total built-up area of about 4,197 sq ft.

114 Jalan Besar Road is a two-storey shophouse which has obtained permanent F&B approval for the ground floor. It has a land area of about 1,173 sq ft, and a built-up area of about 1,901 sq ft. The shophouse has recently undergone asset refurbishment works such as the installation of a brand-new air-conditioning system.

Both shophouses enjoy prominent road frontages.

Under the 2019 Draft Master Plan, both properties are zoned for commercial use. There will be no additional buyer’s stamp duty or seller’s stamp duty imposed on local or foreign buyers. The properties can be purchased individually or together.

There are only about 7,000 shophouses under conservation in Singapore, according to the URA.

Sold with vacant possession, the shophouses will “appeal to end-user occupiers seeking this property type as their business premises as they can immediately take over the space”, says Yap Hui Yee, associate director of capital markets at CBRE.

The EOI exercise will close on July 18 at 3pm.

Source: 12 June 2019, EdgeProp