CBRE, a reputable real estate agency, is excited to present an incredible investment opportunity – a row of three adjoining conservation shophouses at 138, 140, and 142 Jalan Besar. These freehold properties, with a guide price of $30 million, are available for sale collectively. This is an attractive price of $2,908 per square foot on the existing floor area, spanning a generous 10,318 square feet.
Situated on a land area of 4,353 square feet, zoned for commercial use, these shophouses boast a prominent 15-meter frontage along bustling Jalan Besar. Conveniently located just a two-minute walk from Jalan Besar MRT Station, these shophouses are strategically positioned for maximum visibility and accessibility.
All the shophouses are fully tenanted, showcasing their desirability and commercial viability. The ground floors are leased to a pet hotel and a retailer for a renowned luxury Italian sanitaryware brand, OXO. The Assembly Place, a trusted co-living operator, tenants the upper floors.
These shophouses are an outstanding investment opportunity with exceptional attributes such as freehold tenure, strategic location, attractive and established tenant covenants, and approved uses. Investors have already expressed keen interest in the area, evidenced by recent notable transactions, including the sales of 109 to 117 Jalan Besar for $40 million in September 2022, 309 and 311 Jalan Besar for $28 million in May 2022, and 301 Jalan Besar for $26 million just last month.
The expression of interest (EOI) exercise will close on August 2, 3 pm. Contact CBRE for further information and to secure this exciting investment opportunity!
