Two conservation-style shophouses located at 6 and 7 Perak Road in Singapore have been listed for sale at a guide price of $13 million. The total floor area is approximately 5,360 sq ft, meaning the price works out to $2,425 psf. Boasting a mezzanine space with a 11.4m-wide frontage and a 2,870 sq ft land area, the two-storey property was approved as a backpackers’ hostel and sits near the Rochor MRT Station in the Jalan Besar/Little India precinct.
Conditioned in excellent condition, this property could stand to benefit from minimal refurbishment and is primed for either business or personal use. Marketed by PropNex Shophouse Elites, the vendor is offering vacancy possession with the shophouse, allowing the the new owner to decide which type of tenant profile would suit them best.
It’s likely this property will have keen interest from investors, as it is believed it could afford a gross rental yield of over 3%. Plus, being zoned for commercial use, no additional buyer’s stamp duty is payable on the purchase of the properties.
An important factor to consider with this property is the current and expected recovery of the tourism sector post-pandemic, given the shophouses location in a popular area and its potential usage as a hostel. Interested parties have until May 8 at 3pm to submit their tender.
With a potential of strong rental and capital growth, this property may attract strong interest given its enviable location and desirability. Interested in finding out more? Consult the experts at PropNex Shophouse Elites to begin the journey towards you owning a piece of Singapore.