Properties 6 & 7 Perak Road have recently been made available for sale via tender with a guide price of $13 million. These two-storied shophouses with a mezzanine floor boast a built-up area of 5,360 sq ft, and sit perched atop a plot of land measuring about 2,870 sq ft, with an 11.4m-wide frontage along Perak Road.
This prime property resides in the Jalan Besar/Little India precinct in District 8 of Singapore, and is a mere three-minute walk to Rochor MRT Station. The properties are in a well-maintained condition, and might require minimal refurbishments only.
Gracelynn Zhu of PropNex Shophouse Elites, which is marketing the property, reveals that the owner had received multiple offers from prospective tenants, despite the fact that the vendor is looking to sell the shophouses with vacant possession. Zhu anticipates the properties to draw interest from investors seeking assets that can offer strong rental and capital growth, and with the recovery of the tourism sector gaining strong momentum post-pandemic, they could be ideal for hostel operators looking to tap renewed interest for convenient and accessible accommodation among incoming tourists and travellers.
Moreover, since the properties are zoned for commercial use, no additional buyer’s stamp duty is applicable on the purchase of the properties. The tender for the property closes on 8 May at 3pm.
Short of similar transactions on Perak Road, EdgeProp landLens reveals a 999-year Jalan Besar shophouse being sold for $5.9 mil, a five-storey commercial shophouse at 32 Hongkong Street for sale at $8.5 mil, and commercial shophouses at Club Street for sale at $25 mil.