Sevens Group has listed a freehold commercial building on Jalan Besar for $33.8 million. The property combines two adjoining lots, numbers 287 and 289, and sits within the Petain Road/Tyrwhitt Road Conservation Area in District 8.

The renovation, which took about 18 months, blended the original conserved shophouses with a new three-storey rear extension. Together the site now offers a total built-up area of roughly 9,132 sq ft, according to the developer’s brochure, though the approved gross floor area (GFA) is listed at 7,365 sq ft.

At a land price of $13,770 per sq ft on the 2,455 sq ft plot, the asking price is higher than recent sales of comparable shophouses nearby, which have changed hands between $5,990 and $7,301 per sq ft. The developer estimates that close to $9 million was spent on the refurbishment.

Layout and approved uses

The ground floor is approved for shop use, while the second floor is designated for offices, each with an attached toilet. Floors three through six carry a serviced-apartment approval, and the marketing material lists eight ensuite rooms – four on the upper floors and four on the office level, where the “ensuite” is really a bathroom attached to a workspace.

The original mezzanine, once part of the second-storey shophouse, has been reclassified as a separate floor and is now grouped with the newly built extension. The eight rooms are fitted for medium-stay tenants, a segment that sits between traditional leases and hotel stays.

Regulatory constraints

URA records show that the serviced-apartment approval for the third to sixth floors is granted for a fixed period, typically two years. A written permission dated March 2025 does not specify an expiry, leaving a potential buyer reliant on a pending renewal.

Our change-of-use check returned a negative result for converting the second-floor offices into co-living or hostel use. The only alternative use URA would assess at this time is a student hostel.

On the ground floor, the fit-out includes a provision for a grease trap but no actual installation. An earlier temporary restaurant permit that expired in 2025 does not transfer to the renovated building.

The conservation permission that allowed the works has passed its deadline, though the developer has not confirmed any extension.

Overall, the property’s approved GFA stands at 7,365 sq ft, and the URA’s current written permission, dated March 2025, remains without a stated expiry date.

Ownership and transaction details

Ownership of the site is freehold, meaning the buyer will retain perpetual rights to the land and the structures atop it. Because the asset is classified as commercial, it does not attract the additional buyer’s stamp duty or seller’s stamp duty that typically apply to residential transactions. The sale is therefore accessible to a broad pool of investors, including local individuals, overseas purchasers, and corporate entities.

The developer’s promotional brochure cites a built-up area that exceeds the approved gross floor area, explaining that the larger figure incorporates spaces such as voids and air-conditioner ledges. The building sits within a designated conservation zone, where development is subject to strict guidelines aimed at preserving the historic streetscape while allowing a degree of intensification reflected in a relatively high plot ratio.

Location advantages and market context

Strategically positioned in the heart of the district, the property enjoys immediate access to three separate mass-rapid-transit stations, each serving a different line. This connectivity, combined with nearby retail and dining options along the busy thoroughfare, creates an environment that appeals to occupants seeking convenience and vibrancy.

The upper levels were explicitly configured to serve the flexible-stay segment that bridges the gap between conventional leases and hotel accommodations. Units are finished as medium-stay rooms, a format that aligns with the demand patterns observed among travelers who prefer longer stays than typical short-term rentals but shorter commitments than standard tenancies.

An artist’s rendering released by the developer depicts a rear extension that includes a sheltered parking area, providing on-site vehicle accommodation for tenants and visitors. This amenity complements the building’s mixed-use character, offering both residential-type spaces and commercial frontage.