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JLL markets Singapore property portfolio with S$138M price tag

JLL launched the public tender for the collective sale of a portfolio of 32 freehold shophouses in Singapore with a guide price of S$138 million.

The properties have a combined land area of approximately 49,244 square feet and an estimated gross floor area of about 79,502 square feet. They are zoned for commercial use with a 3.0 gross plot ratio under the Urban Redevelopment Authority's Master Plan 2019, according to a Sept. 4 release.

The shophouses can be converted into a six-story development with a gross floor area of 147,732 square feet, subject to approval from relevant authorities. They will remain on offer until Oct. 16.

As of Sept. 4, US$1 was equivalent to S$1.38.