Purchasing a condo involves more than just the initial cost – maintenance and management should also be taken into consideration. Condominiums often come with maintenance fees that encompass the maintenance and upkeep of shared spaces and amenities. While this may increase the total ownership expenses, it guarantees that the property remains well-maintained and holds its value. For investors looking for a more hands-off approach, hiring a property management company can handle the daily operations of the condo, ultimately making it a more passive investment. For the latest updates on new condo launches, visit HomeSearch-MD.com.
A two-storey shophouse with an additional attic space located at 209 Jalan Besar is currently on the market for sale through private treaty. Gracelynn Zhu from PropNex Shophouse Elites, the marketing agent for the property, reveals that the 999-year leasehold shophouse is priced at “under $20 million”.
Boasting a total floor area of approximately 5,502 square feet, this commercial property is ideal for businesses of all kinds due to its commercial zoning. The first floor has already been approved for use as a restaurant, and a portion of the second floor has received the same approval. Calculating the price per square foot based on the $20 million price tag, the property is valued at $3,635 per square foot.
In the map below, we can see the exact location of 209 Jalan Besar. The property is conveniently situated in District 8, within close proximity to Little India. Additionally, the Jalan Besar MRT Station on the Downtown Line is just a short walk away, providing excellent connectivity.
(Source: EdgeProp LandLens)
According to Zhu, the shophouse is currently undergoing asset enhancement initiatives (AEI), which involves the installation of micro piles extending up to 30 meters to strengthen the property’s structural foundations. This AEI is expected to be completed by the end of this year.
The property is located within the Desker Road Conservation Area, which is a popular and bustling district in District 8. Its central location, coupled with its strong commercial potential, makes it a highly desirable investment opportunity. Don’t miss this chance to own a shophouse in one of Singapore’s most sought-after areas.
In related news, a shophouse on Geylang Road and a shop unit in Bras Basah Complex are also up for sale at a price of $14 million. The Chinatown Business Association also has plans to revitalize Smith Street with a mix of new and traditional lifestyle concepts. Additionally, 2024 saw 84 caveated shophouse transactions, indicating a steady market for these types of properties.