A rare opportunity has arisen for commercial property investors with the sale of a three-storey conservation shophouse at 76 Pagoda Street in Chinatown. The property is now available through an expression of interest (EOI) exercise with a guide price of $16 million. Boasting a prime location in the bustling Chinatown enclave, the 99-year leasehold shophouse sits on a plot of 1,372 sq ft and has a generous gross floor area (GFA) of 3,500 sq ft, including an attic level. This translates to a guide price of about $4,571 psf based on its GFA. According to Richard Tan, the founder of PropNex Shophouse Elites and the sole marketing agent for the property, the ground and second floors are currently occupied by a popular restaurant, while the third floor serves as office space. AdvertisementAdvertisementAdvertisementTan adds that commercial shophouses, especially in the Chinatown area, are highly sought after by investors such as owner-occupiers, high-net-worth individuals, and family offices as long-term investment assets. Furthermore, as it is a commercial property, foreigners and companies are eligible to purchase it without having to pay for additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD). The most recent transaction in the vicinity was the sale of 31 Pagoda Street in March. That shophouse, which has an estimated GFA of 3,400 sq ft, was transacted for $19 million at $5,588 psf. When asked about the interest in the area, Tan says that based on the latest data from EdgeProp and URA, the last 10 transactions in the Kreta Ayer Conservation Area were between $2,000 psf and $11,942 psf, with an average price of $5,159 psf. It was also highlighted that the EOI exercise for the Pagoda Street shophouse will close on Jan 10, 2025. Meanwhile, over at 210 New Upper Changi Road, a 103-year leasehold shophouse is also up for sale via an EOI exercise. Kris Ng, the senior associate marketing director at PropNex, is the exclusive marketing agent for the two-storey HDB shophouse with a guide price of $13.8 million. The shophouse stands on a generous GFA of 4,607 sq ft, which is equivalent to $2,995 psf based on its GFA. The property, which is located near the popular Bedok Town Centre, is a favourite among investors because of its stable, long-term tenants. For over 20 years, the shophouse has been rented out to healthcare retailer Guardian and United Overseas Bank (UOB). Additionally, prospective buyers can look forward to being close to Bedok MRT Station on the East-West Line, Bedok Mall and Heartbeat@Bedok. Moreover, as it is a commercial property, it is also open to buyers from abroad and local companies. The EOI exercise for 210 New Upper Changi Road is also expected to close on Jan 10, 2025. Interested buyers can check out the latest listings for Commercial Real Estate properties on Ask Buddy.
Investing in a condo in Singapore has proven to be a lucrative venture for many individuals. It offers a variety of benefits, such as high demand, potential for capital appreciation, and attractive rental yields. However, before diving into this market, several crucial factors need to be carefully considered. These include the location, financing options, government regulations, and current market conditions. With thorough research and expert guidance, investors can make informed decisions and maximize their returns in Singapore’s ever-evolving real estate market. Whether you are a local investor aiming to broaden your portfolio or a foreign buyer seeking a reliable and profitable investment, condos in Singapore provide a compelling opportunity that should not be overlooked.