The two conservation shophouses at 6 and 7 Perak Road have been put up for sale via tender after the pandemic, with a guide price of $13 million. The properties are well-maintained and require minimal refurbishments with an 11.4m-wide frontage along Perak Road and a built-up area of 5,360 sq ft. The three-minute walk to Rochor MRT Station makes them highly accessible, and the tourism sector recovery should make them attractive to hostel operators. The estimated potential gross rental yield to the future buyer is above 3%. Being zoned for commercial use, no additional buyer’s stamp duty is payable which further amplifies the attractiveness of this tender. The tender will close on May 8 at 3pm.
The two conservation shophouses at 6 and 7 Perak Road, situated in the Jalan Besar/Little India precinct, are up for sale with a guide price of $13 million. With minimal refurbishments required, these properties have a built-up area of 5,360 sq ft and an 11.4m-wide frontage along Perak Road. Occupying a land area of approximately 2,870 sq ft, the shophouses offer strategic accessibility, with a three-minute walk to Rochor MRT Station.
The well-maintained and appealing nature of these shophouses make them suitable for usage as a backpackers’ hostel and they are expected to attract strong rental demand. Being zoned for commercial use, no additional buyer’s stamp duty will be payable upon purchase.
With the tourism sector regaining its momentum post-pandemic, the shophouses could be an ideal investment for hostel operators due to their convenient location and high level of accessibility. Investors may also seek to take advantage of the strong rental and capital growth potential of these properties.
Gracelynn Zhu of PropNex Shophouse Elites, the property marketer, estimates that the shophouses could bring in a gross rental yield of over 3%, making them highly attractive to potential buyers. The tender for the sale of the shophouses will close on May 8 at 3pm.