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SINGAPORE, March 13, 2024 /PRNewswire/ -- Nestled in the vibrant heart of Little India, a district steeped in cultural richness and historical significance, lies a trio of meticulously curated shophouses awaiting discerning investors. These properties, boasting prime locations and brimming with potential, have ignited significant interest over the past three years, marking some of the highest transaction volumes recorded in the area. Recognizing their untapped potential and enticing entry-level investment quantum, these shophouses have become focal points of attraction for funds, single-family offices, and private individuals alike.
Shophouse located at Norris Road
Over the past three years, Little India Conservation Shophouses have emerged as focal points of interest, witnessing a surge in transaction volume and capturing the attention of investors ranging from funds to private individuals. Recognizing the untapped potential and enticing entry-level investment opportunities, this area has become a magnet for those seeking lucrative ventures in Singapore's thriving real estate market.
Located along Norris Road, the first of these remarkable shophouses stands tall, offering a harmonious blend of tradition and contemporary living. This meticulously refurbished two-story with a mezzanine level shophouse at 34 Norris Road presents a truly unique investment opportunity. The ground floor, currently leased to a traditional Chinese medicine practice, seamlessly transitions into a co-living space on the upper floor. Featuring five spacious ensuite bedrooms, each equipped with built-in wardrobes and study areas, including two with kitchenettes, this property is poised to redefine modern urban living.
Moreover, Norris Road enjoys proximity to both Jalan Besar (Downtown Line) and Farrer Park MRT (North East Line) stations, making commuting a breeze. The vibrant street is dotted with a diverse array of businesses, including eateries, beauty services, grocers, and even a 5-storey supermarket. Recent additions to the culinary scene, such as the renowned Black Sheep Café and Mr. Biryani, further enhance the allure of Norris Road as a thriving hub for both residents and businesses alike.
Market exclusively by Adnic Lee, Associate Executive Director at Feracity Realty Pte Ltd, a boutique real estate firm renowned for its expertise in local and foreign investment properties. With a land area of approximately 990 square feet and a floor area spanning 2448 square feet, this shophouse, boasting a 999-year leasehold tenure, presents an enticing opportunity for both local and foreign investors, with no Additional Buyer's Stamp Duty (ABSD) required. Priced at $7.2 million, this gem epitomizes the essence of urban sophistication.
Dunlop Street
Moving along the bustling streets of Dunlop Street, another gem awaits its discerning owner. Currently undergoing meticulous refurbishment, this shophouse promises a seamless fusion of modern elegance and historical charm. This 2 Storey with attic shophouse stands as a testament to Singapore's architectural evolution, nestled within the historic district of Little India. With its distinct facade and rich heritage, offers a glimpse into the island nation's past while embracing the present.
Constructed in the late 19th century, the shophouse reflects the eclectic architectural styles prevalent during that era. Its elegant frontage boasts intricate plasterwork, decorative cornices, and arched windows, all meticulously restored to their former glory. The building's colourful exterior adds to its charm, drawing visitors in to explore its hidden treasures.
Stepping inside, one is greeted by a fusion of old-world charm and contemporary flair. The ground floor, once a bustling trading post, now houses a trendy barber and the upper floors have been transformed into chic loft apartments, combining original features like exposed brick walls and timber beams with modern amenities for comfortable urban living. This property offers a rare opportunity to capitalize on the vibrant energy of this bustling locale. Notably, it holds a 999-leasehold tenure, comes with land size of 1190sqft and floor area of 2600sqft approx. With its full commercial status, the shophouse is accessible to foreigners without any Additional Buyer's Stamp Duty (ABSD) requirement. The guide price for this unit is set @ S$7.8million.
Adnic Lee, offering insights into the allure of Dunlop Street, remarked, "The proximity to Jalan Besar MRT and the bustling thoroughfare make Dunlop Street a highly sought-after investment destination."
Recent transactions in the area have set impressive benchmarks, with a unit featuring a land size of 589 square feet fetching $5.25 million. These notable transactions underscore the attractiveness of Dunlop Street to investors, who are drawn to its potential for high returns in this dynamic locale.
Dickson Road – Crafting your own master piece.
Embracing the spirit of creativity and bespoke design, Dickson Road beckons those with a vision for crafting their own masterpiece. Situated within a short stroll of Jalan Besar MRT and amidst burgeoning residential HDB BTO developments with 960 units, housing approximately 2880 residents (assuming 3 residents average per household), this shophouse offers boundless possibilities. With a land area of approximately 1350 square feet and a floor area spanning 3000 square feet, this blank canvas presents an ideal opportunity for single-family offices to shape their distinctive identity. The owner is currently in the process of applying for a change of use to Food & Beverages for both floors. While the unit is in its original condition and will require some refurbishment, this presents an advantageous scenario for single-family offices seeking to design their own office space. The guide price for this unit is set at $7.28 million.
Feracity's Strategic Advisor, Simon Yio, said, 'We recognize the inherent value and potential of these iconic shophouses. With their rich heritage and prime locations, these properties offer investors a unique opportunity to participate in Singapore's dynamic real estate landscape. We are committed to providing personalized guidance and expert insights to help investors make informed decisions and unlock the full potential of these exceptional assets.'"
The expression of Interest for these three exceptional shophouses extends until April 15, 2024. Investors have the flexibility to explore individual or collective acquisitions
Issued by: FERACITY.sg
Date: 13 March 2024
For media inquiries, please contact:
Adnic Lee
Associate Executive Director, Capital Market & Investment
Feracity Realty Pte Ltd
Email: adnic.lee@feracity.sg
Mobile: 9672 2265
About FERACITY.sg:
Established in 2022, FERACITY stands as Singapore's distinguished real estate and property investment firm. Focusing on exclusive opportunities for investors, high-net-worth individuals, and commercial shophouse enthusiasts goes beyond conventional boundaries, surpassing the aspirations of our discerning clientele. Backed by unparalleled expertise, a client-centric ethos, and a global vision rooted in local insight.
