A 999-year leasehold conservation shophouse located at 20 Liang Seah Street has been listed for sale for $15 million. The property will be available for purchase through an expression of interest (EOI) exercise, managed by SRI Capital Market, the exclusive marketing agent for the property.
This three-storey shophouse is situated on a 1,129 sq ft plot that is zoned for residential and commercial use, with a gross plot ratio of 4.2 under the latest Master Plan. The property has a built-up area of 2,635 sq ft, and the guide price of $15 million translates to a price of $2,635 per square foot.
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The ground floor and second floor of the shophouse have been approved for restaurant use, while the top floor is currently leased out for residential purposes. This property falls within the Beach Road secondary settlement conservation area, which allows for the construction of up to five storeys for new extensions, subject to approvals.
According to Low Choon Sin, the managing partner of SRI Capital Market, the property is an attractive option for end-users such as F&B tenants or corporate offices. This is due to the fact that the residential space on the third floor can be used to accommodate staff members. Additionally, the shophouse boasts a prominent frontage along Liang Seah Street, making it visible to the high volume of vehicular traffic passing through during the day. It is also conveniently located near various restaurants and shops in the bustling Bugis area.
Low also highlights the potential for long-term investment in this property, as it offers a 999-year leasehold tenure. He also points to the ongoing rejuvenation of the Bugis area, with the completion of new landmark developments such as Guoco Midtown and the upcoming Shaw Towers, which will further enhance the vibrancy of the area.
The EOI exercise for the sale of 20 Liang Seah Street will close on April 10. This property presents a great opportunity for investors to acquire a 999-year leasehold property that can be held for the long term, taking advantage of the thriving Bugis area. Other notable properties listed for sale include shophouses on Pagoda Street, retail space and car park at Holland Road Shopping Centre, and three conservation shophouses in Little India, with prices starting from $7.2 million.