Shophouse at Jalan Besar receives 24 bids at Edmund Tie & Co auction

After an intense bidding war which saw 24 bids and counter bids made by several interested parties, a freehold Jalan Besar shophouse in District 7 was finally sold at an Edmund Tie & Co auction on June 28 for $5.23 million ($3,420 psf per plot ratio). This marked the most number of bids made for any one submission at a June property auction.

Situated within the Jalan Besar Conservation Area, the two-storey shophouse has a land area of 1,529 sq ft and a gross floor area of 2,745 sq ft. Each storey houses a retail space. The property, sold with vacant possession, is located within walking distance of the future Bendemeer MRT Station on the Downtown Line, and City Square Mall. It is also close to Broadway Food Centre and the Jalan Besar Sports Centre.

Two other shophouses were up for bids at the same auction, but were not sold. A 2½-storey property at Sam Leong Road that sits on a 99-year leasehold land spanning 1,538 sq ft was withdrawn. Similarly, another 2½-storey unit on Dalhousie Lane with a land area of 961 sq ft was not sold at the auction.

The next Edmund Tie & Co auction will be held on July 26.

Source: ET&Co