For Sale: Freehold Brand-new Commercial Building With F&B Approval at Jalan Besar

253 Jalan Besar is a four-storey building with a six-storey rear extension in the heart of Jalan Besar. Enjoying a prominent road frontage, the property sits on a site of approximately 3,230 square feet (sq ft) and has an estimated built-up area of approximately 9,694 sq ft. The building is currently under construction and will be sold on a vacant possession basis with an expected TOP date in 4th Quarter 2024.

The property pays homage to the strong industrial heritage of Jalan Besar with a clean modern interpretation, while injecting luxurious elements to complement the overall experience. The architecture is a physical manifestation of the hardware shops and their wares incorporated as architectural elements.

Situated along Jalan Besar, the property enjoys high visibility and footfall throughout the day. The buyer of the new building will also have potential naming and signage rights. It currently enjoys rare F&B approval on the ground floor and office use approval for the upper floors. There is a passenger lift which serves all floors and three sheltered carpark lots located at the back of the building. Washrooms are located across all floors as well.

The property boasts excellent accessibility with Farrer Park (NE8) MRT and Jalan Besar MRT (DT22) stations within four minutes’ walk while the CBD is accessible within a 10-minute drive. The immediate vicinity is home to a broad mix of new and existing commercial businesses and retailers as well as a wide array of renowned restaurants and cafes. This city fringe location has been transformed over the years into an exciting lifestyle enclave frequented by both tourists and locals.

Ms Yap Hui Yee, Executive Director, Investment Sales & Capital Markets at Savills Singapore, says, “Jalan Besar is fast rejuvenating and has attracted popular occupiers seeking to gain a foothold in this up-and-coming lifestyle enclave. 253 Jalan Besar presents buyers with an appealing opportunity to own a newly built commercial building that will be ready for immediate occupation. An incoming buyer can also explore the potential to convert to other alternative uses such as a fitness centre, showroom, for home & living, educational activities and healthcare/medical amongst others, subject to authorities’ approvals.”

“The guide price for 253 Jalan Besar is at $24.23 million or $2,499 psf GFA. With freehold shophouses in the vicinity transacting at approximately $2,400 psf GFA, 253 Jalan Besar presents a compelling opportunity for buyers to acquire a newly built commercial building at an attractive capital value.”

“As the property is zoned ‘’Commercial’’ under the 2019 Masterplan, it is not subjected to the Additional Buyers’ Stamp Duties or Seller Stamp Duties. Foreigners and companies will be eligible to purchase,” Ms Yap adds.

The Expression of Interest (EOI) exercise closes on Friday, 1st March 2024 at 3pm.