Three pre-war shophouses in Little India for sale with S$7.5m guide price

THREE adjoining two-storey pre-war conservation shophouses at 4, 6 and 8 Belilios Lane are up for sale collectively with a guide price of S$7.5 million, exclusive marketing agent CBRE said on Wednesday.

Sitting on a site area of about 2,203 square feet (sq ft), the property has 11 metres of unobstructed road frontage along Belilios Lane. The total built-up area of the three shophouses is about 4,015 sq ft.

Under the Urban Redevelopment Authority's Master Plan 2019, the site is zoned for commercial use under the Little India Historic District Conservation Area.

The subject property is fully leased to various tenants, comprising beauty salons, a jewellery shop and a pharmacy, CBRE said.

Clemence Lee, CBRE senior director of capital markets, Singapore, said the property is a "rare opportunity for astute investors or owner-occupiers to acquire a row of three corner shophouses in the vibrant Little India district".

The property is located across the street from the House of Tan Teng Niah, a heritage landmark popular among both locals and tourists, which helps ensure regular footfall to the area, Mr Lee said.

The large public car park beside it also brings convenience to patrons who drive, he added.

Subject to approval from the relevant authorities, the successful buyer can explore various change-of-use options for the shophouses, such as restaurants, fitness centres or medical clinics to unlock capital value and enjoy future rental upside.

The property is a three-minute walk from Little India MRT. There are also bus services along Serangoon Road, which leads to other arterial roads and expressways, such as the Central Expressway.

Mr Lee added that ongoing rejuvenation activities in Little India and Farrer Park, including the completion of commercial projects such as Tekka Place, Centrium Square and the upcoming lyf Farrer Park Singapore, are expected to transform the vicinity into a "dynamic and bustling" city fringe commercial cluster with numerous food and beverage and lifestyle attractions.

The property will be in an advantageous position to benefit from the spillover of commercial activities, allowing the successful buyer to benefit from "favourable" rental and capital appreciation in the medium to long term, he added.

There is no additional buyer's stamp duty or seller's stamp duty imposed on the property transaction. Foreigners are eligible to purchase.

The expression of interest exercise closes on Sept 24 at 3pm.