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There’s absolutely no extra purchaser’s stamp duty or vendor’s stamp duty imposed on the purchase.
The shophouses sit a 2,203 sq ft plot and contain an 11-meter street frontage along Belilios Lane. The Website is located under”commercial” from the 2019 Master Plan, and it is located inside the Small India Historic District Conservation Region.
The complete built-up field of the trio is all about 4,015 sq ft. The properties are fully leased to various tenants such as beauty salons, a jewelry store, and a pharmacy.
“This really is a rare chance for astute investors or owner-occupiers to obtain a row of 3 corner shophouses from the vibrant Little India district. The advantage is situated just across the road from the famous House of Tan Teng Niah, a legacy landmark popular amongst both tourists and locals, which can help guarantee normal footfalls into the region,” states Clemence Lee, senior manager of capital markets at CBRE.
The new owner may research different change-of-use selections such as restaurants, fitness centers, or healthcare practices, subject to approvals. This might help unlock capital worth and leasing upside later on, ” says CBRE.
The conclusion of neighboring industrial developments like Tekka Place, Centrium Square, and Lyf @ Farrer is predicted to transform the region into a lively business bunch, states Lee. He adds that the shophouses are well positioned to benefit from spillover commercial pursuits and so could enjoy favourable leasing and capital appreciation in the medium to long term.