Freehold Jalan Besar shophouse on market for $8.5m amidst F&B scarcity

It sits outside the designated Jalan Besar and Little India F&B Restriction Zone.

A freehold commercial shophouse at 405 Jalan Besar has been put up for sale at $8.5m through an Expression of Interest exercise closing on 27 August at 3pm.

Savills said in a statement that the two-storey conservation shophouse sits on a 1,723-square-foot site and is zoned for commercial use under the Urban Redevelopment Authority's Master Plan 2025, with a plot ratio of 3.0.

The property is fully tenanted and has existing ground-floor restaurant approval. It also sits outside the designated Jalan Besar and Little India F&B Restriction Zone.

The owner may also seek approval for upper-floor F&B use, subject to the relevant authorities and prevailing regulations.

The property has potential for a rear extension, subject to approvals, which could increase its total floor area.

"Opportunities to acquire freehold commercial shophouses with existing F&B approvals in city-fringe locations are increasingly scarce," said Nick Chan, Associate Director, Investment Sales and Capital Markets at Savills Singapore.

Chan said 405 Jalan Besar offers investors and owner-occupiers an opportunity to secure a commercial asset within a rejuvenated precinct that benefits from "strong occupier demand, lifestyle-driven footfall, and ongoing gentrification".

The property is about 500 metres from Bendemeer MRT Station and 800 metres from Farrer Park MRT Station.

It is also near City Square Mall, Mustafa Centre, Centrium Square, ARC 380, and Aperia Mall.

As a fully commercial property, foreign purchasers are eligible to acquire the asset without Additional Buyer's Stamp Duty or Seller's Stamp Duty.