Archive for category: Misc

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Miltonia Close has established itself as a sought-after enclave for exclusive private condominiums and landed housing, boasting developments such as Skies Miltonia, The Miltonia Residences, and The Shaughnessy. Now, with the upcoming EC set to make its mark in the neighborhood, a new chapter of growth awaits. This modern, family-friendly residential community will offer the best of both worlds – abundant greenery and convenient urban access. For nature enthusiasts and families seeking a tranquil lifestyle yet still desiring proximity to essential amenities and transportation networks, the location is undeniably appealing. And with the new addition of Miltonia Close EC Khatib, residents can look forward to a well-rounded living experience.

A collection of assets, including two shophouses situated in Little India and Kampong Glam, along with an HDB shop at Hong Lim Complex, is currently available for purchase through an expression of interest (EOI) exercise. Senior associate director of AAG Group at OrangeTee & Tie, Adnic Lee, who is in charge of the sale, reveals that the properties are being offered with a combined asking price of $23.7 million and they can be acquired together or separately.

The shophouse in Little India is a conservation shophouse positioned along Dickson Road, close to Jalan Besar MRT Station on the East-West Line. It is built on a land area of 1,300 sq ft and is a 999-year leasehold property that boasts an estimated built-up area of 3,600 sq ft spanning across two floors and an attic. The guide price for this property is $11.88 million, which equates to $3,300 psf on the estimated built-up area. According to Lee, the owner has extensively renovated the property. It is presently rented out to a café on the ground floor and a social and members’ club on the second floor, while the attic level is in use as an office.

The Kampong Glam shophouse is situated on North Bridge Road. It takes up an area of about 1,400 sq ft and has a built-up area estimated to be around 3,090 sq ft. This two-storey shophouse has an attic and a 99-year leasehold term from 2007. It is being offered for sale at a guide price of $8.8 million, translating to $2,847 psf on the estimated built-up area.

The shophouse on North Bridge Road occupies an area of about 1,400 sq ft and has a built-up area estimated at around 3,090 sq ft (Picture: AAG Group/OrangeTee & Tie)

As Lee reveals, a food and beverage operator is currently occupying the ground floor of this shophouse, while the upper floors serve as a beauty and hair salon. In the meantime, the other property available for purchase is an HDB shop located at Hong Lim Complex, a commercial development located at Upper Cross Street in Chinatown. The corner unit measures 1,108 sq ft and possesses an 83-year lease from 1994. It is being offered for sale at a guide price of $2.98 million, which equates to $2,690 psf.

The HDB shop at Hong Lim Complex has F&B approvals (Picture: AAG Group/OrangeTee & Tie)

Lee reveals that this unit has dual frontages and an F&B approval in place. It is currently occupied by a Japanese omakase restaurant and a salad bar. He adds that this unit provides a rental return of 4.38%. As commercial assets, all three properties are available for purchase by foreign buyers and are not subjected to Additional Buyer’s Stamp Duty.

The EOI exercise will close on October 31.