Conservation shophouses at Jalan Besar on sale for $30m

The property can be bought without ABSD rate.

A row of three adjoining freehold part-2, part-2.5-storey conservation shophouses, located at 138, 140 and 142 Jalan Besar will be on sale until 2 August 2023, at 3 p.m.

The sale will be conducted through an expression of interest exercise, CBRE, the 4,353 sq ft property’s marketing agent.

It is zoned as commercial under the Little India Conservation Area and are fully tenanted to occupiers.

The ground floors are currently leased to a pet hotel and OXO – a luxury Italian sanitary retail store whilst the upper floors are fully tenanted to The Assembly Place, a co-living operator.

To be sold collectively, the shophouses have an indicative guide price of $30m, or $2,908 psf on the total existing floor area. 

Locals and foreigners will be eligible to purchase the shophouses without incurring any Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) on the purchase.

The shophouses are also near to train station such as Jalan Besar MRT Station, which is a 2-minutes’ walk away (150m), whilst a bus step with multiple service lines is located just 40 metres away. 

It is also surrounded by four other MRT Stations – Rochor, Little India, Farrer Park and Lavender that provides further connectivity to the North-East Line and East-West Line.