Two adjoining strata-titled shophouses at 28 and 30 Dickson Road are up for sale via an expression of interest exercise at a guide price of $9 million by exclusive marketing agent Huttons Asia.
With an estimated strata area of 111 and 113 sqm respectively, totalling 2,411 sq ft, the guide price works out to $3,733 psf.
The 999-year leasehold shophouses are zoned for “Commercial” use and also approved for “Restaurant” use. Both units have been leased to a restaurant operator.
With the same capital outlay, investors can acquire two adjoining ground-floor units instead of a single full shophouse, capturing stronger rents, note Yeo Khee Liang, associate senior marketing director of Huttons Asia; and George Tan, director of corporate sales and marketing of Huttons.
This configuration also offers future flexibility to divest units individually, they add.
“Foreigners are eligible to buy these shophouses as they are on land zoned for commercial use. With interest rates falling, interest in shophouses has picked up. The conflict in the Middle East may see some wealth flowing into this rare asset class,” says Lee Sze Teck, senior director of data analytics at Huttons Asia.
See also: Two adjoining strata office units on level 16 of Suntec Tower 1 for sale at $22 mil
The expression of interest exercise will close at 4pm on May 7.
Earlier in March, a two-storey shophouse located on Dickson Road in the Jalan Besar conservation area with a total built-up area of 3,568 sq ft was launched for sale with an asking price of $10.8 million, or $3,027 psf.
The property has F&B approval for all three levels.
