Three shophouses on Belilios Lane going for $7.5 mil

SINGAPORE (EDGEPROP) - Three adjoining shophouses at 4, 6, and 8 Belilios Lane are on the market collectively for $7.5 million. The two-storey, pre-war conservation properties will be sold collectively by an expression of interest (EOI) exercise. CBRE is the sole marketing agent for this sale.

There is no additional buyer’s stamp duty or seller’s stamp duty imposed on the sale.

The shophouses sit on a 2,203 sq ft plot and feature an 11-meter road frontage along Belilios Lane. The site is zoned under “commercial” in the 2019 Master Plan, and it is located within the Little India Historic District Conservation Area.

The total built-up area of the trio is about 4,015 sq ft. The properties are currently fully leased to various tenants including beauty salons, a jewellery shop, and a pharmacy.

“This is a rare opportunity for astute investors or owner-occupiers to acquire a row of three corner shophouses in the vibrant Little India district. The asset is located just across the street from the renowned House of Tan Teng Niah, a heritage landmark popular among both locals and tourists, which helps ensure regular footfalls to the area,” says Clemence Lee, senior director of capital markets at CBRE.

The new owner could explore various change-of-use options such as restaurants, fitness centres, or medical clinics, subject to approvals. This could help unlock capital values and rental upside in the future, says CBRE.

The completion of nearby commercial developments such as Tekka Place, Centrium Square, and Lyf @ Farrer is expected to transform the area into a dynamic commercial cluster, says Lee. He adds that the shophouses are well placed to benefit from spillover commercial activities and thus could enjoy favourable rental and capital appreciation in the medium to long term.

The EOI exercise will close on Sept 24.