Two conservation shophouses located at 6 and 7 Perak Road have been launched for sale. These two-storey buildings have a built-up area of 5,360 sq ft, sit on a land area of approximately 2,870 sq ft and have 11.4m frontage along Perak Road. With approval for usage as a backpackers’ hostel, the shophouses are well-maintained and only require minimal refurbishment. The guide price of the properties is $13 million, which works out to $2,425 psf.

The properties are well-situated in the Jalan Besar/Little India precinct of District 8, just a three-minute walk to Rochor MRT Station and close to amenities in the Bugis area. This makes them attractive for investors seeking strong rental and capital growth. Gracelynn Zhu of PropNex Shophouse Elites, which is marketing the property, believes that post-pandemic, the shophouses could be an ideal choice for hostel operators tapping into the renewed interest in convenient and accessible accommodation among incoming tourists and travellers.

Altura EC offers 375 residential units in the heart of Bukit Batok Town; close to MRT station, bus interchange, schools, Tengah Town, and the Jurong Innovation District. 99-year leasehold with Altura EC estimated launch in Q2 2023; attractive residential option that is close to amenities and reasonably priced.

Zhu notes that the current owner has received “multiple offers” from prospective tenants, however, the vendor is selling the shophouses with vacant possession, enabling the new owner to decide which tenant profile they want. This also benefits the investor with a potential gross rental yield of over 3%. Furthermore, no additional buyer’s stamp duty is payable on the purchase of the properties given that they are zoned for commercial use.

The tender for the properties at 6 and 7 Perak Road closes on May 8 at 3pm. Interested buyers can expect to get a prime asset with strong rental demand, ready for use or rental.

With strong rental demand and close proximity to amenities, two conservation shophouses located at 6 and 7 Perak Road, have been launched for sale. The guideprice of the properties is $13 million, with a built-up area of 5,360 sq ft, on a land area of approximately 2,870 sq ft and 11.4m frontage along Perak Road. Zoned as commercial, no additional buyer’s stamp duty is payable on the purchase of the properties and the current owner has been receiving “multiple offers” from prospective tenants.

Gracelynn Zhu of PropNex Shophouse Elites, which is marketing the property, believes that the shophouses could be ideal for hostel operators tapping into the renewed interest in convenient and accessible accommodation among incoming tourists and travellers and may provide the investor with a potential gross rental yield of over 3%.

Well-maintained and only requiring minimal refurbishments, the properties are ideally situated in the Jalan Besar/Little India precinct of District 8, just a three-minute walk to Rochor MRT Station and close to amenities in the Bugis area. The tender for the properties closes on May 8 at 3pm. With a smart investment, buyers can look forward to receiving a prime asset with strong rental demand, ready for use or rental.