Two shophouses at Perak Road up for sale at $13 mil
The pair of conservation shophouses at 6 and 7 Perak Road have been launched for sale via tender with a guide price of $13 million. Well-maintained, they require minimal refurbishments and possess an 11.4m-wide frontage along Perak Road with a total floor area of 5,360 sq ft. This works out to $2,425 psf on the total floor area.The strategic location in District 8 surrounded by amenities and close to the Bugis area means the properties enjoy strong rental demand from multiple prospective tenants.Nonetheless, the vendor is looking to sell the shophouses with vacant possession, which will enable the new owner to decide which type of tenant profile they desire for the property.With the recovery of the tourism sector post-pandemic, the properties may be ideal for hostel operators looking to tap renewed interest for convenient and accessible accommodation among incoming tourists and travellers.Investors may also find the properties attractive, due to …