Kopar at Newton CEL at Newton MRT Station.When it comes to real estate, Singapore has a burgeoning market right now. They have many properties for sale in the main core. These attractive shops serve as a cornerstone for business in the area. The space can also be rented out to small business entrepreneurs for office spaces with a desk. Such properties are an attractive find for those looking to be centralized in downtown Singapore. Please also see for sale properties such as
This particular shophouse for sale has a lot going for it. It is on 13 Bussorah Street. The property is under lease for 99 years. This lease is relatively new, beginning in 2003. This makes for a great source of guaranteed revenue stream. The property is going on the market again after it was sold in 2013 for $4.78 million. If you’ve ever wanted to be a commercial landlord, then here’s your opportunity. The new asking price is $6.1 million.
The shophouse is two stories. It has a palm tree in the front making for a fetching aesthetic. It is right beside a restaurant so any employees or tenants looking for food do not have to go far. The corrugated brick roof is ideal for weather conditions. The front of the building is white and can be transformed for any shopfront look. There is a place for a business sign in between the two levels.
This building is in the Kampong Glam area. This neighborhood is north of the Singapore River. It is an area known to be inhabited by the Native Malay people as well as Muslims. There is a mosque in the area and many Muslims find this to be a hub of their community in Singapore.
The area has been restored and there are lots of art and cultural attractions in Kampong Glam as well as cafes and restaurants. This particular shophouse will have tenants until July 2020. This means that the new ownership has time to determine how they want to proceed with continuing the commercial value and purpose of this property.
To break down the exact value, the property is going for $3,913 a square foot. UOB Bank also evaluated the property this year and their estimation is $6.5 million. Ultimately, this is a great find that is going to be a moneymaker for the new ownership. The average that it was previously rented for is $11,200 per month.