Two conservation shophouses located in the Jalan Besar/Little India precinct at 6 and 7 Perak Road have been made available for sale via tender with a guide price of $13 million. A three-minute walk away from Rochor MRT Station, these two-storey shophouses come with mezzanine space and a built-up area of 5,360 sq ft. Approved for use as a backpackers’ hostel, they occupy a land area of approximately 2,870 sq ft and have an 11.4m-wide frontage along Perak Road.
The properties are well-maintained and need minimal refurbishments, making them ideal for hostel operators looking to tap renewed interest for convenient and accessible accommodation among incoming tourists and travellers post-pandemic. Investors are also expected to show keen interest in the properties, as they can potentially bring in a gross rental yield of over 3% due to their strong rental demand and close proximity to amenities in District 8 and the Bugis area.
The vendor is willing to sell the shophouses with vacant possession, thus enabling the new owner to decide which type of tenant profile they desire for the property. As they are zoned for commercial use, no additional buyer’s stamp duty will be payable on the purchase. The tender for the property closes on May 8 at 3pm.
Interest in the shophouses is expected to be high, with the current owner receiving “multiple offers” from prospective tenants. This is no surprise, given their strategic location and well-preserved condition.