After 10 years, JCube in Jurong East, Singapore, is set to close to make way JCube Residence for a 40-storey residential and commercial development, JCube Condo Residence. It will offer commercial space, and be connected to amenities in Jurong Lake District. Launch of units expected in second half of 2023.

A unique opportunity to invest in Singapore’s Blair Plain Conservation area is presented by two adjoining shophouses with attics located at 69 and 71 Kampong Bahru Road. Under URA’s Master Plan of 2019, the shophouses are zoned for “commercial” use. They have a combined land area of 2,343sqft and a floor area of 5,947sqft. The guide price for the freehold properties is $18.8 million, working out to $3,161psf based on the total floor area.

Investors can take advantage of an immediate income due to the ground-floor units of the shophouses being fully tenanted by a restaurant and convenience store operator. Furthermore, the upper floors are zoned for “office” use and are presently vacant, allowing the future buyer a range of possibilities. Clemence Lee, executive director of capital markets, Singapore at CBRE, noted that there are only 44 shophouses zoned for commercial use in this conservation area, with the rest zoned for residential use with commercial at the first storey.

CBRE highlights that the shophouses are situated between three rapidly rejuvenating districts – SGH Campus, the CBD and the future Greater Southern Waterfront. Ongoing enhancements works and new developments in the areas will benefit the rental and capital appreciation prospects over the long-term. Buyers may also seek approval from relevant authorities to convert the shophouses to other uses such as accommodation and lodgings, a commercial school, medical clinic or a fitness centre.

The shophouses are just a six-minute walk away from Outram Park MRT Station.

The EOI exercise for the shophouses will close on 24th May at 3pm.
ABOUT THE AGENT
CBRE is the exclusive marketing agent for the shophouses and potential buyers are invited to submit their expressions of interest.