The tender for former House of Tan Teng Niah, a two-storey bungalow which enjoys ‘conserved’ status has been launched.
This was informed by JLL the marketing agent for this sale. Located close to the Little India MRT Station, this bungalow falls in a zone that has been identified for commercial use and has total area of 25,865 sq ft.
The property dates back to year 1900 and has been popularly known as the former Tan Teng Niah. The Chinese businessman Late Mr. Tan was the owner Serangoon Road’s many confectionery factories and also owned a house in Kerbau Road.
It is also Little India’s last surviving Chinese villa.
JLL’s senior consultant Mr Karamjit Singh said that the property would be sold as a single entity since the building and the shops here aren’t strata-titled.
According to him the property has been valued S$70.6 million in 2018. He added that the said property was perhaps the largest privately-held commercial land near Little India MRT station and opportunity to buy such properties doesn’t knock on the door every day.
The villa that has eight rooms is listed on Little India Heritage Trail of National Heritage Board and it was said to have been built for wife of Mr Tan.
The structure draws inspiration from European architectural style as well as those from Southern China. In the 80s the building went through a major restoration and conservation project.
According to JLL this property is symbolic of the co-existence of Indians who ran the cattle-trade industry and Chinese nationals who were engaged in business in the past.
According to Mr Singh high net-worth individuals, investors and family offices are likely to be interested in picking up this property which has great historical significance and would also serve as an income generating portfolio.
It is located advantageously at one of the ends of the Central Business District and near the Tekka Market. It is part of the Little India Conservation Area and few minutes’ walk from the Little India MRT station
37 Kerbau Road’s House of Tan Teng Niah is one of the four buildings that are located at the site. There is a pair of shophouses at 41/43 Kerbau Road which are two-storey structures.
Also, part of the property is a shop that opens in Buffalo Road. The fourth property is a 672 Chander Road where there are 14 shops in a single-level retail property.
Together they have a floor area of 16,800 sq ft. Buyer won’t need to pay Additional Buyer’s Stamp Duty as all the properties are of non-residential nature.
The tender for this property shall close 2nd of April at 2:30 PM