Four shophouses in Little India for sale at $23 mil

A portfolio of four shophouses in the Little India area is up for sale via an expression of interest exercise. The properties on sale include three conservation shophouses located on Dunlop Street and one on Desker Road and have a guide price of $23 million.

All the shophouses are owned by the same owner, who is open to selling the properties either together or separately, according to Lukas Teo of Shophouse Collective – a team under PropNex Realty, and the sole marketing agent for the properties.

The three shophouses on Dunlop Street are adjacent two-storey properties with a gross floor area of 3,879 sq ft and land area of 2,527 sq The Myst ft, zoned for commercial use. They have a guide price of $15 million, translating to a price tag of $3,867 psf on the GFA.

The shophouse at Desker Road, located about 800m away from the Dunlop Street shophouses, is a three-storey property with a GFA of approximately 3,000 sq ft and a land size of 1,060 sq ft zoned for commercial use. It has a guide price of $7 million, or $2,667 psf on the GFA.

The shophouse at 2 Dunlop Street is leased to a barbershop and currently renting at $5,500 a month. Meanwhile, the other two at Dunlop Street, and the unit at Desker Road, are occupied by a minimart business.

The expression of interest exercise for the portfolio will close on April 12 at 4pm.

Recent sales transactions of shophouses on Dunlop Street, as noted by EdgeProp Research, suggest that demand for shophouses in the area is strong. The price has been steadily rising, giving the seller confidence of a good sale result.