Four shophouses located in the Little India region of Singapore are up for sale via an expression of interest exercise. With a guide price of $23 million, the portfolio includes three conservation shophouses situated at Dunlop Street and one at Desker Road.
The shophouse at Desker Road stands out due to its three-storey construction, with a Gross Floor Area (GFA) of around 3,000 sq ft and 1,060 sq ft of land zoned for commercial purposes. This particular shophouse is occupied by a minimart business and has a guide price of $7 million, which is equal to $2,667 psf on the GFA.
The remaining three shophouse at Dunlop Street share similar characteristics, being two-storey properties with a total gross floor area of 3,879 sq ft, 2,527 sq ft of land Champions Way Condo and are approved for shop usage. The owner of these properties is open to selling them individually or as a package, for which the guide price is $15 million – approximately $3,867 psf on the GFA.
The shophouse at 2 Dunlop Street is leased to a barbershop at a monthly rent of $5,500, while units at 4 and 6 are vacant. Teo Lukas from Shophouse Collective, the sole selling agent of these properties, sheds some light on the situation, saying the expression of interest will close on April 12 at 4pm.
Recent sales transactions of shophouses in the area – such as the five freehold conservation shophouses at Rochor which were up for sale at $20.3 million and the Boutique Hotel at Desker Road which was listed for sale at $30 million – further prove the potential of these premises. Regardless of the outcome, it is evident that these four shophouses present a once-in-a-lifetime investment opportunity.