SINGAPORE, 11 August 2020 – EDMUND TIE, the sole marketing agent for the sale of 65, 66 and 67 Syed Alwi Road, is pleased to offer the three adjoining units of twostorey shophouses with mezzanine for sale via a tender exercise.
The shophouses are located near the junction of Syed Alwi Road with the Jalan Besar thoroughfare, and within 400 metres to Jalan Besar MRT Station on the Downtown Line. Commanding a prominent 17-metre frontage along Syed Alwi Road, the shophouses have a combined site area of 329.1 sq m (approximately 3,542 sq ft) and a total gross floor area of around 624.6 sq m (approximately 6,723 sq ft). Under the URA Master Plan 2019, the property is zoned “Commercial” under Little India Historic District.
Strategically located at the city fringe, the subject property is only minutes’ drive from the Central Business District (CBD) and Orchard Road.
A vibrant enclave that is rich in history and cultural heritage, Jalan Besar has attracted a diverse mix of uses including shops, restaurants, cafes, pubs, co-working spaces and boutique hotels. It is also a well-known food haven that is home to popular eateries such as Sungei Road Laksa, Swee Choon Tim Sum, Beach Road Scissors Cut Curry Rice and Ming Chung Restaurant amongst others.
The area has also undergone exciting rejuvenation in recent years such as the completion of Tekka Place integrated development and Centrium Square – a commercial and medical suites development. Other landmarks in the precinct are Mustafa Centre and City Square Mall.
Executive director of investment advisory, Swee Shou Fern, commented: “This is a rare opportunity to own three adjoining shophouses, which gives the potential buyer ample flexibility in terms of space utilisation.”
“As vacant possession of the ground floor space can also be delivered upon sale, it also offers investors the opportunity to reposition the property for alternative uses such as food and beverage, clinic, fitness centre or showroom, subject to approval from relevant authorities,” she added.
As the property is zoned commercial, it is not subject to additional buyer’s stamp duty or seller’s stamp duty and is eligible for purchase by both local and foreign buyers.
The indicative price for the property is S$8.8 million.
The tender exercise for 65, 66 and 67 Syed Alwi Road will close on 17 September 2020 at 3pm.
ENDS
For further information, please contact:
Wong Wei Chen
Senior Manager, Corporate Communications
O: +65 6393 2369
Email: weichen.wong@etcsea.com
About EDMUND TIE
EDMUND TIE is a full-service, real estate consulting firm with more than 400 skilled professionals in the region. It is headquartered in Singapore and supported by offices in Kuala Lumpur, Malaysia, and Bangkok, Thailand. We offer a comprehensive suite of agency and professional services including investment advisory, business space and retail, residential agency, auction and sales, valuation advisory, statutory valuation and property tax advisory, research and consulting, property management, and hospitality management. For more information, please visit www.etcsea.com.