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Property News25 May 2018

Liang Seah Street, Little India shophouses for sale and auction

ST 20180525 RMSHOPHOUSE 4011506

They have an estimated total gross floor area of 11,500 sq ft and a gross plot ratio of 4.2.

The land has a 999-year lease tenure beginning from 1827.

Colliers International said the shophouses were rebuilt and the external facade reinstated to its original specification in 1997.

The units are opposite Bugis Junction mall and within walking distance of Bugis MRT station.

Mr Steven Tan, director of capital markets and investment services at Colliers International, said: "Shophouses have always been a sought-after class of real estate among investors, owing to their prime locations, heritage charm and scarcity.

"We expect to see keen investment interest.

"The rare 999 years' tenure of these shophouses and their prime location in the city centre will boost their potential for asset value retention and future capital appreciation."

Separately, a batch of six freehold conservation shophouses in Little India are up for auction.

The corner unit and five adjoining units in Desker Road were bought in 2010 for $10 million.

A 25-room hotel - Marrison Desker - operates on the second floor of the shophouses. There is also food and beverage and retail units on the ground level.

The six shophouses occupy a total land area of 619.1 square metres and a total build area of approximately 1,140 sq m.

The auction will be on May 31, PropNex announced yesterday.

Source: The Straits Times
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