Four shophouses located in the Little India area are up for sale in Expression of Interest. The properties include three conservation shophouses located on Dunlop Street and one on Desker Road. The portfolio has a target price of $23 million.
The three shops are located adjacent to two-story properties situated at 2,4 and 6, and Dunlop street. They cover a total GFA (GFA) which is 3 879 square feet and are situated on 2,527 sq feet that are zoned to commercial usage. The floors are permitted for use in shops.
The shophouse on Desker Road, located approximately 800m of the Dunlop Street shophouses It is an three-storey property with a gross floor area of 3,000 sq ft with a land area of 1,060 sq ft that is zoned to commercial uses.
Each shophouse is controlled by a single owner who is willing to sell the units in conjunction or individually according to Shophouse Collective’s Lukas Teo. Shophouse Collective, a team that is part of PropNex Realty, has been designated as an exclusive marketing representative for all the properties.
The three shops on Dunlop Street have a guide price of $15 million which is equivalent to $3,867 per square foot on the GFA. In addition, the shophouse on Desker Road is priced at $8 million, which translates to $2,667 psf based on the GFA.
Teo claims that the shophouse located on 2, Dunlop Street is leased to barbershops at $5,500 per month The units at 6 and 4 Dunlop Street are vacant. The Desker Road Shophouse on Desker Road is rented to a business that is minimart.
The expression of interest process for the portfolio will end on April 12 at 4pm.