SINGAPORE (EDGEPROP) - A pair of corner freehold adjoining shophouses at 309 and 311 Jalan Besar has been launched for sale via expression of interest at a guide price of $23 million, or $2,520 psf based on the land area. Savills Singapore is the sole marketing agent for the property. (Check all latest Singapore property Market Trends)

The shophouses sit on a 3,267 sq ft corner site that has 40m dual road frontage on Jalan Besar and Petain Road. Comprising two storeys, the shophouses also have an attic as well as a four-storey rear extension, resulting in a total gross floor area (GFA) of 9,127 sq ft.

The property is zoned for commercial use under the 2019 Masterplan, meaning that it is not subject to Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duties (SSD). Foreigners and companies will also be eligible to purchase the property. (Find Singapore commercial properties with our commercial directory)

The property has F&B approvals on three levels — namely the ground, third and fourth floors — and is currently fully tenanted. Savills Singapore’s associate director of investment sales and capital markets Sophia Lim says the shophouses offer yields of around 2.4% based on the guide price. She adds that shophouses at Jalan Besar have received keen interest, with 284 Jalan Besar recently sold at its asking price of $5.9 million in January, in a deal brokered by Savills Singapore.

Other recent transactions on Jalan Besar include the sale of a strata shop unit at 10 Jalan Besar for $1.2 million ($2,2340 psf) on Feb 7.

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The expression of interest (EOI) exercise for the shophouses will close on April 19 at 3pm.

Check out the latest listings near Jalan Besar

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