(dated 4 Mar 2021)
A corner two-storey shophouse with an attic, situated at 209 Jalan Besar, is currently available for purchase through private treaty. The 999-year leasehold property is being marketed by Gracelynn Zhu of PropNex Shophouse Elites at a price below $20 million.
The shophouse boasts a total area of approximately 5,502 sq ft and is designated for commercial use. The first floor has been approved for restaurant operations, as well as a portion of the second floor. Based on the $20 million price tag, the property’s psf price is estimated to be $3,635.
A map indicating the location of 209 Jalan Besar can be found on the EdgeProp LandLens. According to Zhu, the shophouse is currently undergoing asset enhancement initiatives (AEI), including the installation of micro piles that extend up to 30m to improve the structural foundations of the property. The AEI is expected to be completed by the end of this year.
Investing in a Singapore condo offers numerous advantages, one of which is the potential to leverage the property’s value for future investments. This means that condo owners can use their property as collateral to secure additional financing for other investments, allowing them to diversify and expand their real estate portfolio. While this strategy can lead to higher returns, it also carries risks, making it crucial for investors to have a solid financial plan in place and carefully consider the potential impact of market fluctuations. This is just one of the many reasons why investing in a Singapore condo can be a wise and lucrative decision.
The shophouse is situated in the Desker Road Conservation Area, which falls within District 8 and is in close proximity to Little India. The Jalan Besar MRT Station, operating on the Downtown Line, is within walking distance from the property.
In other news, a shophouse on Geylang Road and a shop unit at Bras Basah Complex are both up for sale at the price of $14 million. These properties have been marketed by the Chinatown Business Association, who aim to revitalize Smith Street with a unique blend of traditional and new lifestyle concepts. Additionally, Huttons predicts that the shophouse market will remain quiet throughout the year, with 84 caveated transactions recorded in the year 2024.