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A two-storey shophouse with an attic at 209 Jalan Besar is now on the market for private sale. The property, which has a 999-year lease, is being marketed by Gracelynn Zhu from PropNex Shophouse Elites, and is priced below $20 million.
This corner shophouse has a total floor area of approximately 5,502 sq ft and is zoned for commercial use. The first floor is approved for restaurant use, while a portion of the second floor is also zoned for the same purpose. With a price tag of $20 million, the property’s price per square foot (psf) works out to be $3,635.
The location of the property can be seen on the map below (Source: EdgeProp LandLens). It is situated in the Desker Road Conservation Area within District 8, close to Little India. The Jalan Besar MRT Station, which is on the Downtown Line, is within walking distance.
According to Zhu, the shophouse is currently undergoing asset enhancement initiatives (AEI), which includes the installation of micro piles that extend 30m to enhance the property’s structural foundations. The AEI is expected to be completed this year.
This shophouse presents a great investment opportunity with its desirable location and potential for rental income. Interested parties can contact Gracelynn Zhu for more information. Additionally, multiple units in the Desker Road Conservation Area have been sold at record prices recently, making this shophouse an even more attractive option for investors.