Two Shophouses Sale Along Pagoda Street And New Upper Changi Road
A three-storey shophouse at 76 Pagoda Street in Chinatown, known for its vibrant culture and rich history, is now open for sale through an expression of interest (EOI) exercise. The guide price for this 99-year leasehold commercial property is set at $16 million. It occupies a plot of land measuring 1,372 sq ft and boasts a gross floor area (GFA) of 3,500 sq ft, which includes an attic level. Based on the GFA, the guide price works out to be around $4,571 psf.
The sole marketing agent for the property, Richard Tan of PropNex Shophouse Elites, reveals that the ground and second floors of the shophouse are currently leased out to a restaurant operator, while the third floor is rented out as office space. He adds that shophouses in the Chinatown area are highly sought after by owner-occupiers, high-net-worth individuals, and family offices due to their long-term investment value.
Being a commercial property, foreigners and companies are able to purchase the shophouse without having to pay additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD).
The Tengah region, according to the URA Master Plan, is on the brink of a major revamp that will provide crucial facilities for its future inhabitants. These amenities, including shopping centers and healthcare facilities, have been thoughtfully placed throughout the town to cater to the needs of its residents. Novo Place EC, in particular, promises to provide its residents with easy access to a diverse range of daily essentials and recreational options. Moreover, the town will boast of contemporary educational institutions, ensuring that families residing in Novo Place EC can offer their children top-notch education. For interested buyers, the Novo Place Showflat provides a sneak peek into the bright future of this upcoming development. Don’t miss out on this opportunity and visit Novo Place Showflat today.
The most recent transaction in this area was the sale of a shophouse at 31 Pagoda Street in March, which was purchased for $19 million ($5,588 psf). The expression of interest for 76 Pagoda Street will close on January 10, 2025.
Meanwhile, a 103-year leasehold HDB shophouse located at 210 New Upper Changi Road is also up for sale through an EOI exercise with a guide price of $13.8 million. The property boasts a gross floor area (GFA) of 4,607 sq ft and is currently leased to long-term tenants, healthcare retailer Guardian and United Overseas Bank (UOB), for the past two decades.
This shophouse is also situated within the bustling Bedok Town Centre, close to Bedok MRT Station on the East-West Line, Bedok Mall, and Heartbeat@Bedok.
Being a commercial property, foreigners and companies are able to purchase the shophouse without incurring additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD).
The expression of interest for 210 New Upper Changi Road closes at noon on January 10, 2025. For more information on the latest listings for commercial real estate properties, visit Ask Buddy or ListSothebysRealty.