The conserved shophouse has a built-up area of 1,330 square feet and a land area of 675 square feet

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Two-storey, 999-year leasehold commercial shophouse located on Arab Street is being offered for sale via an expressions of interest (EOI) with a suggested cost that is $5.2 million, as per the press release issued by PropNex on October 10.

The shophouse that is being conserved is situated on land of 675 sq ft as well as an area built up of 1,330 square feet. The floors are currently let to an Turkish mosaic lamp manufacturer.

Foreigners and corporations are eligible to purchase properties and no buyer’s and seller’s stamp tax will be charged. The property was owned by an non GST registered business.

Evonne Seow as the marketing associate of PropNex is optimistic that the property will garner attention due to recent transactions within the Kampong Glam region, which includes Arab Street and Bali Lane.

The entry-level price is appealing, she says.

The property is located in Bugis located in Bugis and Kampong Glam, an area rich in history, the property is a short walk from Bugis MRT Station which is located on the East-West Line.

The EOI deadline is on November 9th at 5pm.