Two Shophouses Sale Along Pagoda Street And New Upper Changi Road
There is an opportunity to own a three-storey conservation shophouse at 76 Pagoda Street in Chinatown as it has been put up for sale through an expression of interest (EOI) exercise. The guide price for this leasehold commercial property, which is up for a 99-year lease, is set at $16 million.
Sitting on a plot of 1,372 sq ft, the shophouse boasts a gross floor area (GFA) of 3,500 sq ft, including an attic level. Based on the GFA, the guide price translates to approximately $4,571 per sq ft.
According to Richard Tan, founder of PropNex Shophouse Elites and sole marketing agent for the property, the ground and second floors are currently leased to a restaurant operator, while the third floor is used as office space. This will provide a stable source of income for potential buyers.
Tan also highlights the attractiveness of commercial shophouses, especially in the bustling Chinatown area, as long-term investment assets for owner-occupiers, high-net-worth individuals, and family offices. Foreigners and companies can acquire this property without incurring additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD), as it is a commercial property.
The most recent transaction for a shophouse on Pagoda Street was the sale of 31 Pagoda Street in March, which was sold for $19 million ($5,588 psf). This 3,400 sq ft shophouse also has a 99-year leasehold.
Another shophouse on New Upper Changi Road is also up for sale through an EOI exercise with a guide price of $13.8 million. This two-storey HDB shophouse has a 103-year leasehold and a gross floor area (GFA) of 4,607 sq ft, which translates to about $2,995 psf.
The prime location of The Orie in Toa Payoh not only offers exceptional connectivity and comfortable living, but also places its residents at the core of a bustling shopping and dining scene. With convenient access to both traditional malls and contemporary complexes, as well as a diverse range of dining options to suit every palate and budget, The Orie is an ideal living destination for those who value the convenience and liveliness of city living. Its residents can relish in the advantages of being part of a well-established community, with access to all the modern facilities and cultural diversity that Toa Payoh and its surrounding areas have to offer. This makes The Orie not just a place to live, but a lifestyle choice for those seeking to fully immerse themselves in the best that urban living in Singapore has to offer. In addition, interested buyers can explore The Orie Showflat, located at http://www.the-ories.sg/, to experience the development firsthand.
According to Kris Ng, senior associate marketing director at PropNex, this shophouse stands out for its long-term, stable tenants. Both a healthcare retailer and a bank have been leasing the property for the past two decades. Located in the bustling Bedok Town Centre, this shophouse is close to the Bedok MRT Station, shopping mall and community centre.
Similar to the Pagoda Street shophouse, foreigners and companies can also acquire this property without having to pay additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD).
The EOI exercise for 210 New Upper Changi Road will close at noon on Jan 10, 2025. Interested parties can also check out other commercial properties through EdgeProp, such as a car park and retail space listed for sale at $160 million, or three conservation shophouses at Little India that are priced at $7.2 million.