Archive for category: Misc

Tampines is said to be an up and coming residential area as major developments are taking place. In particular, upcoming Tampines Ave 11 Condo UOL Group is highly anticipated, promising to bring residents a life of convenience, comfort, and luxury. The development will include commercial shops and eateries, along with a range of recreational and sports facilities. It is expected to be a highly sought-after address amongst property hunters who desire a complete lifestyle experience in an up-and-coming suburb.

At the corner of Desker Road and Serangoon Road lies Usman’s, a no-frills restaurant that has been around for more than 20 years. Serving up all sorts of Indian and Pakistani delicacies, it’s a popular spot for locals and tourists alike. The area exudes a vibrant atmosphere, with people bustling in and out of the numerous businesses that occupy the nearby conservation shophouses.

The two streets, Desker Road and Rowell Road, extend from Jalan Besar to Serangoon Road, offering locals and visitors an eclectic mix of establishments. On the Serangoon side, you’ll find old-school eateries, wholesale retailers and handphone stores. However, as you walk towards Jalan Besar, newer and trendier places make their mark, like Ikigai Yakitori and Allo.

Sammi Lim, founder and executive director of Brilliance Capital, notes that shophouses in the area are becoming increasingly attractive to businesses due to the competitive rents. She’s currently handling the sale of a portfolio that consists of nine freehold conservation shophouses along the two roads. The portfolio has a combined land area of 10,557 sq ft and a built-up area of 22,898 sq ft, carrying a guide price of $66 million or $2,882 psf.

Fully leased out, the portfolio is occupied by a diverse mix of tenants, including a construction contractor, vegetarian restaurant, cat cafe, art gallery and more. Most leases were signed during the pandemic and will soon be due for renewal, so the current gross rental yield of 2% is likely to increase over time.

Desker Road and Rowell Road have seen marked changes in the past decade. Once notorious for vice activities, the area has been cleaned up and is evolving as new owners and tenants move in. Lim likens it to the transformation of Chinatown’s Amoy Street and Tanjong Pagar’s Tras Street, and sees the potential for further capital and rental appreciation. She notes that the potential buyer of the portfolio has the benefit of being a first-mover and could enjoy capital growth and a stable rental yield by either holding onto the property or selling it off in parts.

In conclusion, Lim believes that investing in this portfolio presents a great opportunity to get a foothold in an ever-evolving and increasingly desirable neighbourhood.