Little India commercial site launched for sale

The 25,865 sqft site was valued at $70.6m in 2018.

A tender for a commercial site in Little India where a conserved two-storey bungalow, known as the former House of Tan Teng Niah, stands was launched for sale, according to an announcement by marketing agent JLL.

Under the 2014 Master Plan, the leasehold 25,865 sqft site is predominantly zoned Commercial, with a section of the site to be retained as open space.

Built in 1900, the former House of Tan Teng Niah is believed to be the last remaining Chinese villa in Little India, JLL said.

Aside from the House of Tan Teng Niah, there are three other buildings located within the subject site. They include a pair of adjoining two-storey heritage shophouses at 41/43 Kerbau Road, a single-storey shop fronting Buffalo Road and a single-level retail building comprising 14 shops at 672 Chander Road with an open courtyard and two sheltered eating areas. The lettable space across all four buildings is almost fully leased.

“As the shop lots and buildings are not strata-titled, the entire portfolio is to be sold in its entirety. We understand that the asset was valued at $70.6m late last year,” Karamjit Singh, senior consultant at JLL, said in a statement.

The heritage site was reportedly built in 1900 and is one of the landmarks listed in the National Heritage Board’s Little India Heritage Trail.

“To our knowledge, this could well be one of the largest plots of privately-held commercial land located in the vicinity of the Little India MRT station,” Singh added.

Interested purchasers are invited to submit their offers before 2 April 2019 at 2:30 p.m.