CBRE has announced the sale of a rare 9999-year tenure, 3-storey shophouse located at 1 Jalan Wangi, Singapore. The property, situated at the junction of MacPherson Road and Jalan Wangi, is being marketed exclusively by CBRE through an Expression of Interest exercise, closing on 18 June 2025 at 12pm.
The shophouse, occupying a site of approximately 2,944 square feet with an estimated Gross Floor Area (GFA) of 4,800 square feet, is currently tenanted. The ground floor hosts a retailer, whilst levels two and three are occupied by a co-living operator. The guide price for this asset is set at $5.7 million (S$7.8 million), translating to about $1,187 (S$1,625) per square foot based on the GFA.
Michael Tay, Deputy Managing Director and Head of Capital Markets at CBRE, highlighted the property’s investment potential, stating, “Shophouses along MacPherson main road are hard to come by and this opportunity is ideal for investors looking to capitalise on strong rental upside and capital appreciation.” The property’s proximity to industrial estates is expected to ensure strong occupancy for its residential component.
Joshua Giam, Director of Capital Markets at CBRE, noted the strong demand from local high net worth individuals for city fringe shophouses. He mentioned potential value-add options for the incoming buyer, such as converting the ground floor for alternative uses, subject to approval.
Located in Sennett Estate, the property is within a 10-minute walk from Potong Pasir MRT Station and is well-connected to key areas like the Central Business District and Orchard Road.
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