Two Shophouses Sale Along Pagoda Street And New Upper Changi Road
Expressions of interest are now open for a three-storey conservation shophouse at 76 Pagoda Street in Chinatown. The guide price for this commercial property is set at $16 million and is available for sale to foreigners and companies without additional buyer’s stamp duty or seller’s stamp duty.
Covering a plot size of 1,372 square feet, the 99-year leasehold property boasts a gross floor area of 3,500 square feet, including an attic level. This translates to about $4,571 per square foot based on GFA. Richard Tan, founder of PropNex Shophouse Elites and sole marketing agent for the property, reveals that the ground and second floors are currently leased to a restaurant operator, while the third floor is used as office space.
Tan adds that commercial shophouses in the Chinatown enclave are highly coveted by owner-occupiers, high-net-worth individuals, and family offices as long-term investment assets. As this is a commercial property, foreigners and companies are eligible to acquire it without incurring ABSD or SSD.
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The most recent transaction on Pagoda Street was the sale of 31 Pagoda Street in March, which fetched a price of $19 million or $5,588 per square foot. The property has an estimated GFA of 3,400 square feet.
The EOI exercise for 76 Pagoda Street will close on Jan 10, 2025.
Meanwhile, an expression of interest exercise is also open for a two-storey HDB shophouse located at 210 New Upper Changi Road with a guide price of $13.8 million. The 103-year leasehold property features a gross floor area of 4,607 square feet, which translates to a price of $2,995 per square foot based on GFA.
Kris Ng, senior associate marketing director at PropNex, who is marketing the property, highlights the stable and long-term tenants of the shophouse, representing a standout feature of this property. For the past 20 years, the property has been leased to healthcare retailer Guardian and United Overseas Bank (UOB).
Strategically located within the Bedok Town Centre, the shophouse is in close proximity to Bedok MRT Station on the East-West Line, Bedok Mall, and Heartbeat@Bedok. Similar to the Pagoda Street shophouse, this commercial property is also available for sale to foreigners and companies without ABSD or SSD.
The EOI exercise for 210 New Upper Changi Road will close at noon on Jan 10, 2025.
