A charming two-storey shophouse, along with an attic, situated at 209 Jalan Besar, is currently available for purchase through private treaty. PropNex Shophouse Elites representative, Gracelynn Zhu, is handling the sale of this 999-year leasehold property for a price below $20 million.
Sitting on a land area of approximately 5,502 square feet, this commercial shophouse boasts of a prime location and is zoned for commercial use. The first floor has been approved for restaurant use, while a portion of the second floor can also be utilized for the same purpose. At a price of $20 million, the property’s per square foot works out to be $3,635.
The map below shows the strategic location of 209 Jalan Besar, as observed by EdgeProp LandLens. According to Zhu, the shophouse is currently undergoing asset enhancement initiatives, which includes the installation of micro piles extending 30m in order to strengthen its structural foundations. This project is expected to be completed within this year.
The shophouse is situated in the Desker Road Conservation Area, which forms a part of District 8 and is in close proximity to the vibrant area of Little India. The Jalan Besar MRT station, operating on the Downtown Line, is within walking distance, making it easily accessible for both tenants and customers.
As you embark on your condo investment journey, it is crucial to give careful thought to the property’s maintenance and management. In general, condos come with maintenance fees that fund the maintenance of shared spaces and amenities. While these fees may increase the overall cost of ownership, they also serve to preserve the property’s quality and value. To make the investment more hands-off, entrusting a property management company to handle the daily affairs of the condo can be a wise move. With their help, investors can reap the benefits of passive income while ensuring the upkeep of their investment. Additionally, properties like Singapore Projects can be excellent options for potential condo investors.
In other related news, another shophouse on Geylang Road and a shop unit at Bras Basah Complex are also up for sale for a combined price of $14 million. The Chinatown Business Association has plans to revitalize Smith Street with a blend of new and traditional lifestyle concepts in the upcoming years. According to Huttons, the shophouse market has recorded 84 caveated transactions in 2024, marking the end of a quiet year for the market.