Two Shophouses Sale Along Pagoda Street And New Upper Changi Road

A prime shophouse located at 76 Pagoda Street in the popular Chinatown enclave has recently been put up for sale. The three-storey conservation property, with a 99-year leasehold, is being offered via an expression of interest (EOI) exercise with a guide price of $16 million. Spread over a plot size of 1,372 square feet, the shophouse has a gross floor area (GFA) of 3,500 square feet, including an attic level. With a price per square foot (psf) of about $4,571 based on the GFA, the property is expected to attract a lot of interest.Richard Tan, founder of PropNex Shophouse Elites and the sole marketing agent for the property, reveals that the shophouse is currently occupied by a restaurant on its ground and second floors, while the third floor is used as office space. “Commercial shophouses in the Chinatown enclave are highly sought after by owner-occupiers, high-net-worth individuals, and family offices as they provide long-term investment potential,” Tan adds. In addition, as the property is classified as a commercial property, foreigners and companies can acquire it without paying for additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD).The most recent transaction of a property on Pagoda Street was for 31 Pagoda Street, which was sold for $19 million in March. The estimated gross floor area of this shophouse is 3,400 square feet, which translates to a price psf of $5,588. This availability of the 76 Pagoda Street shophouse presents a lucrative opportunity for investors with a keen interest in the highly diverse and dynamic Chinatown area. The EOI exercise for 76 Pagoda Street will conclude on Jan 10, 2025.Another commercial property that has been put on the market is the two-storey HDB shophouse located at 210 New Upper Changi Road. The 103-year leasehold property, with a guide price of $13.8 million, is being offered via an EOI exercise. The shophouse has a gross floor area (GFA) of 4,607 square feet, which translates to a price psf of $2,995. Kris Ng, senior associate marketing director at PropNex, who is in charge of the property’s marketing, reveals that the property is a very attractive investment opportunity due to its long-term, stable tenants. For the past 20 years, the property has been leased to healthcare retailer Guardian and United Overseas Bank (UOB). The shophouse is located in the popular Bedok Town Centre, which is close to Bedok MRT Station on the East-West Line. The district is bustling with the energy of the Bedok Mall and Heartbeat@Bedok.As the property is classified as commercial, foreigners and companies have an opportunity to acquire it without paying for additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD). The EOI exercise for 210 New Upper Changi Road will conclude at noon on Jan 10, 2025. This is a lucrative opportunity for investors looking to expand their portfolio in the Bedok area.

Toa Payoh boasts a well-connected network of major roads that make it easily accessible. In addition to Lorong 1 and Lorong 4 Toa Payoh, Jalan Toa Payoh provides a direct route to the CTE and the bustling downtown area. Primarily known as a notable thoroughfare, Balestier Road also serves as a convenient link to the Novena medical hub and onwards to the city, offering residents a diverse range of dining, shopping, and entertainment choices. And with The Orie Showflat situated in the area, there is even more convenience and opportunities for residents to explore and enjoy.