For those looking to purchase property within Singapore’s Jalan Besar/Little India precinct, two well-maintained conservation shophouses at 6 & 7 Perak Road have been put up for sale at a guide price of $13 million. This works out to $2,425 psf on the total floor area and the properties occupy a land area of 2,870 sqft with an 11.4m wide frontage.
The two-storey buildings come with mezzanine space having a built-up area of 5,360 sq ft and are about three minutes walk away from the Rochor MRT Station. With the increasing tourism post-pandemic, the properties can be ideal for hosting backpackers and hostel operators as well investors looking for rental and capital growth.
Considering the location and accessibility, the current owner has been receiving multiple offers from prospective tenants. Assuming they will be sold with vacant possession, the new owner can decide which kind of tenant profiles they wish to target.
The properties in this location are likely to bring in a gross rental yield of over 3% for the future buyer, making it a lucrative investment option, especially when considering the fact that they have been zoned for commercial use, thereby not requiring any additional buyer’s stamp duty to be paid.
The tender for these properties closes on 8th May at 3PM and PropNex Shophouse Elites, which is marketing the property, believes there will be keen interest. Past transactions of properties on Perak Road further point towards the positive potential of these properties.