Listing Id: 26656
Last Refreshed: 07/11/2022
Total Views: 451
(Expired)Investment Opportunity: Batam Shophouses (Attractive Price And Location)
BishanBusiness Real Estate For Sale
Asking Price: S$500K - 1M
Business For Takeover
Look For Investor
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- Overview
- Reason For Sale
- Description
Overview
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Premise Type
Commercial Street
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Owner Role
Full Time
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Source
Direct Seller
Reason For Sale
Investment
Description
I have an Indonesian partner I worked on for previous deals whose family owns one of the largest commercial developers in Batam (family business) - responsible for Top 100 Supermarket (largest supermart in Batam), Grand Batam Mall (largest mixed development shopping mall in Batam) and other industrial estates in Batam (100+ha).
They have a new mixed development in Batam (42ha), sandwiched between Bengkong district and Batam Center district, which are the two most crowded areas in Batam (those who go to Batam should know). Site is built next to the upcoming new ferry terminal. Currently on-sale are 60+ shophouses for the area - half of which already taken.
Investment requires setting up a local entity to hold commercial property. Looking for investors who can put up about S$1M / IDR 10 billion in total (or anyone who is open to pooling investments to put up the capital), which is the minimum paid up capital to form a foreign owned entity in Indonesia. We know a long-trusted lawyer and notary in Batam who can set everything up (incorporation, obtain licenses to hold properties) - commercial property will be held under HGB license which will allow company to hold for 30 years and then renew for 20 years and then 30/20/30/20... perpetually.
Price/sqm is currently about 10-20% below median price/sqm of nearby comparable shophouses and annual rental yield is expected to be 5-7%. Property handover expected to be Sep'24.
Anyone interested can whatsapp me. I can send brochures and also provide more details. 1/2 of the available shophouses are already taken so need to move quickly.