>

>

Three-storey freehold commercial shophouse in Little India on sale for $11 mil

By Nicholas Lam

/ EdgeProp Singapore |

January 25, 2024 2:10 PM SGT

The conserved shophouse on Upper Weld Road (Photo: Loyalle Chin/PropNex)

Join our Telegram channel and follow our Facebook for the latest update.

A three-storey, conserved shophouse at 20 Upper Weld Road is up for sale by expression of interest (EOI). It has been listed with a guide price of $11 million.

The freehold property in Little India in District 8 has a land area of 1,722 sq ft and a total floor area of about 4,050 sq ft. The guide price translates to $2,716 psf based on the floor area.

The property is zoned “commercial” under the URA Master Plan 2019 and is approved for F&B use on the first two floors, with office use on the third floor. Alternative commercial use on the third level could include co-living spaces or student hostels.

Read also: Pagoda Street shophouses, Holland Road Shopping Centre retail space and car park for sale from $160 mil

The property is located about 101m from the Jalan Besar MRT Station (on the Downtown Line). “It is extremely rare to find a freehold F&B commercial asset less than a minute walk to an MRT station on the Downtown Line,” says Loyalle Chin, PropNex Realty senior associate district director and director of PropNex ShophouseHuat.

Little India has undergone a renewal in recent years. New commercial developments in the area include the mixed-use development Centrium Square (redevelopment of the former Serangoon Plaza), where all its retail units were sold for $135 million, or $4,967 psf, based on the strata area in 2016. The newly opened Hotel Mi Rochor is a redevelopment of the former Golden Wall Centre. Sim Lim Square and Sim Lim Plaza, which have stores selling electronics goods, are located nearby.

Upcoming residential projects include City Developments and MCL Land’s 407-unit, 99-year leasehold Piccadilly Grand at Farrer Park and two HDB developments designated as Prime Location Public Housing projects.

The EOI exercise for the shophouse at Upper Weld Road will close on Feb 28.

Tags:

Follow Us

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Far East Shopping Centre’s $908 mil en bloc deal aborted

2

World’s largest Mercure Hotel opens on Club Street

3

Grandson of Genting Group founder leads Cover Projects, carves niche in Singapore’s heritage properties

4

The Residences at W Singapore Sentosa Cove relaunches at prices from $1,648 psf, 40% below the peak

5

URA awards Zion Road site to CDL-Mitsui Fudosan JV, and Upper Thomson Road site to GuocoLand-Hong Leong JV

Our Site

Follow Us

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

View More

Close Ad

00:00