SINGAPORE (EDGEPROP) - A 999-year leasehold, two-storey commercial shophouse on Arab Street is up for sale via expression of interest (EOI) at a guide price of $5.2 million, according to a press release from PropNex on Oct 10. (Find Singapore commercial properties with our commercial directory)
Read also: Six adjoining two-storey commercial shophouses in Geylang for sale
The conserved shophouse has a land area of 675 sq ft and a built-up area of 1,330 sq ft. Both floors are currently leased to a Turkish mosaic lamp retailer.
Foreigners and companies are eligible to purchase the properties and no additional buyer's stamp duty or seller’s stamp duty will be imposed. It is owned by a non-GST registered company.
Recent commercial sales transactions within 500m. Source: EdgeProp LandLens
Evonne Seow, the marketing associate at PropNex, is confident that the asset will attract interest in view of recent deals in the Kampong Glam area, including Arab Street and Bali Lane.
The low entry price is attractive, she says.
Located in Bugis and Kampong Glam, an area steeped in history, the property is within walking distance to Bugis MRT Station on the East-West Line.
The EOI exercise will close on Nov 9 at 5pm.
Check out the latest listings near Arab Street, Bugis MRT Station