Two shophouses in Bugis for sale by tender

A FREEHOLD corner shophouse at 17 Jalan Klapa and a 999-year tenure conservation shophouse at 14 Purvis Street are up for sale by tender with guide prices of S$12.3 million and S$29 million, respectively.

According to the Urban Redevelopment Authority's (URA) Master Plan 2019, 17 Jalan Klapa is fully zoned for commercial use while 14 Purvis Street is zoned for hotel use. Both locals and foreigners are eligible to purchase either property at no additional buyer's stamp duty.

Tender exercises have been launched for both properties, and will close on Sept 30 at 3pm.

Loyalle Chin, PropNex Realty's exclusive marketing agent for 17 Jalan Klapa, said in a press release on Wednesday that the three-storey corner shophouse comes with existing tenancy as well as permanent food and beverage (F&B) approval, with both ground and second floors fully approved for restaurant use.

The shophouse sits on a land area of 1,500 sq ft and has a 27.6-metre-wide frontage with multiple entrances. Based on the property's estimated built-up area of 3,500 square feet (sq ft), which is subject to a site survey, its guide price translates to about S$3,509 per square foot.

In its press statement, PropNex said 17 Jalan Klapa's vendor has received provisional approval from URA to extend its second storey's rear portion by an additional 570 sq ft. (see amendment note)

Describing the property as a "rare corner freehold shophouse with rare permanent F&B approval", Mr Chin, who is PropNex's senior associate division director, said he expects keen interest from investors as well as end-users looking to locate their business in a building with prominent signage rights within Bugis.

"Due to traffic congestion, new eating houses in Kampong Bugis are no longer permissible as a result of overwhelming demand for parking spaces. Therefore this tightly-held F&B shophouse supply holds a huge advantage," he said.

The other shophouse for sale at 14 Purvis Street is a boutique conservation hotel which spans over five storeys with an attic. Its land size is 2,056 sq ft with a gross floor area of 8,611 sq ft.

The property is approved for restaurant use with a liquor licence on the ground floor, while 32 rooms occupy the upper storeys.

Amendment note: An earlier version of this article has been updated to rectify numerous source errors.