Freehold corner ground-floor unit at Jalan Besar on sale for $14.8 mil

It has a strata area of approximately 4,876 sq ft, comprising the entire ground floor and part of the second floor. (Photo: Cushman & Wakefield)

A freehold ground-floor unit at Jalan Besar is up for sale via an expression of interest (EOI) exercise, according to exclusive marketing agent Cushman & Wakefield. The property has a guide price of $14.8 million, or approximately $3,035 psf.

Located at the corner of Jalan Besar and Plumer Road, the property has dual road frontages spanning 30m. It has a strata area of approximately 4,876 sq ft, comprising the entire ground floor and part of the second floor. The unit also comes with two sets of staircases and is equipped with washrooms on both levels.

According to Cushman & Wakefield, the property features an efficient layout, allowing incoming buyers the flexibility for potential subdivision and leasing to multiple tenants. The group adds that the unit is suitable for a range of commercial uses such as a medical suite, education or training centre or showroom. It is also well-positioned for food and beverage options due to the property’s newly obtained F&B approval.

Sophia Lim, director of capital markets at Cushman & Wakefield, says: “With its prominent dual road frontage and flexible layout configurations, this property is well-positioned to capture strong demand from both investors and occupiers looking to establish a presence in a vibrant and fast-evolving precinct.”

Located within the Jalan Besar conservation area in District 8, the ground-floor unit provides accessibility to the neighbourhood, which has become home to boutique hotels, co-working spaces, artisanal shops and cafes and bistros.

The property is also located within proximity to three MRT stations, including Jalan Besar MRT Station, Bendemeer MRT Station and Farrer Park MRT Station, and major expressways such as the Central Expressway (CTE) and Pan-Island Expressway (PIE).

“District 8 has experienced a noticeable increase in transaction volume and investor activity over the past few years, driven by the area’s ongoing rejuvenation and improving profile as a city-fringe hotspot,” says Shaun Poh, executive director of capital markets at Cushman & Wakefield.

The group points to recent strata retail transactions in the Jalan Besar area, including the nearby ARC 380, which recorded retail unit transactions between $3,737 psf to $3,975 psf from May to December 2024, and a large ground-floor coffee shop unit at Hoa Nam Building that sold for $4,213 psf in December 2022.

“We believe there remains significant upside in this precinct, both in terms of capital growth and rental appreciation, as Jalan Besar continues to mature into a promising investment corridor, supported by steady demand from both end-users and local and foreign investors,” says Poh.

The EOI exercise for the property is expected to close on Nov 21 at 3pm.