The pair of conservation shophouses at 6 and 7 Perak Road have been launched for sale via tender with a guide price of $13 million. Well-maintained, they require minimal refurbishments and possess an 11.4m-wide frontage along Perak Road with a total floor area of 5,360 sq ft. This works out to $2,425 psf on the total floor area.The strategic location in District 8 surrounded by amenities and close to the Bugis area means the properties enjoy strong rental demand from multiple prospective tenants.Nonetheless, the vendor is looking to sell the shophouses with vacant possession, which will enable the new owner to decide which type of tenant profile they desire for the property.With the recovery of the tourism sector post-pandemic, the properties may be ideal for hostel operators looking to tap renewed interest for convenient and accessible accommodation among incoming tourists and travellers.Investors may also find the properties attractive, due to the potential gross rental yield of over 3%. As they are zoned for commercial use, no additional buyer’s stamp duty is payable on the purchase of the properties.The tender for the property will close on May 8 at 3pm.
The pair of conservation shophouses at 6 and 7 Perak Road have been launched for sale via tender with a guide price of $13 million, which works out to $2,425 psf on the total floor area. Situated in the Jalan Besar/Little India precinct, the properties possess an 11.4m-wide frontage along Perak Road and a total floor area of 5,360 sq ft. The two-storey shophouses with mezzanine space have a built-up area of 2,870 sq ft and are well-maintained, requiring minimal refurbishments.
The properties are conveniently located close to the Bugis area and enjoy strong rental demand, with the current owner receiving “multiple offers” from prospective tenants. With the recovery of the tourism sector post-pandemic, the properties may be ideal for hostel operators looking to tap renewed interest for convenient and accessible accommodation among incoming tourists and travellers.
Investors may also find the properties attractive, due to the potential gross rental yield of over 3%. Moreover, as they are zoned for commercial use, no additional buyer’s stamp duty is payable on the purchase of the properties.
The vendor is looking to sell the shophouses with vacant possession, which will enable the new owner to decide which type of tenant profile they desire for the property. The tender for the property will close on May 8 at 3pm.
Given the strategic location and current high rental demand, the shophouses may offer strong rental and capital growth. The near proximity to Rochor MRT Station also add to its appeal.